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Determine the profit-maximizing quantity for a monopolist. You can ask the firm's to draw the firm's revenue and cost curves, but each curve would possibly cost you$1,000. From the following list indicate which curves you will request and why?
a) Average total cost,
b) Average fixed cost,
c) Average variable cost,
d) Marginal cost,
e) Demand, and
f) Marginal revenue
The demand function for VCRs has been estimated to be Qv = 123 - 1.7Pt + 46 Pm - 2.1Pv -5M, where Qv is the quantity of VCRs,Pt is the price of a videocassette, pmis the price of a movie, Pv is the price of a VCR, and M is income.
This problem uses Okun's law to study how the unemployment and inflation rates change when there are demand shocks.
According to the quantity theory of money, what is the effect of increase in quantity of money?
Throughout this course we have discussed the 'agency problem' - i.e., when the interests of owners and managers are not properly aligned.
Which of the followings tends to occur during recessions Cyclical unemployment tends to fall The stock markets tends to surge (experience a rapid rise in prices) Interest rates tend to fall Gross Domestic Product rises Consumer ..
Finding the short run and long run profit maximizing price - quantity and number of firms in industry.
Discuss how each of the following developments would affect the supply of the money, the demand for money, and the interest rate. For each case, describe what happens in closed economy and in small open economy. Describe your answers with diagrams.
Suppose that workers and firms could always predict next year\'s price level with perfect accuracy.
The price per unit remains $7.50 in both scenarios. Does the labour analyst's argument hold? Explain why or why not, and use data to prove your point. (Hint: calculate total costs in both circumstances).
What is the unemployment rate? What will the unemployment rate be if the unemployed increases to 7 million and 3 million individuals become discouraged workers?
Draw a graph showing hte above situation. Include in that graph, the monopolist's cost curves, demand and marginal revenue curves and the price and quantities that are indicated by the situation described above.
Assume the government imposes a tax of $2.00 per unit to reduce widget consumption and raise government revenues. What will the equilibrium quantity be?
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