Reference no: EM1372107
1. A company under monopolistic competition faces the demand curve: P = 500 - 12.5Q. The company's marginal cost is MC = 200 + 5Q.
a. Find the firm's profit-maximizing output and price.
b. Assuming that the firm is at its long-run equilibrium position, estimate total revenue, total cost, and total profit.
2. A monopolist faces the demand curve: P = 8,400 - 3Q, and has long-run average cost
LAC = 900 - 3Q + Q2.
a. Derive equations for revenue, marginal revenue, total cost, and marginal cost.
b. Determine the monopolist's profit-maximizing output, price, and profit.
3. Industry demand for a good is given by: P = 60 - .5Q. The industry's long-run cost is $10 per unit: LAC = LMC = $10.
a. A monopolist controls the industry. Find its output and price.
b. Instead, suppose that the same industry is perfectly competitive. Find the long-run equilibrium price and output. Comment on the differences between the monopoly and competitive results.
4. A 5-member commodity cartel faces the demand curve: P = 60 - .4Q. Each member can produce output at (constant) LAC = LMC = $20 per unit.
a. Describe how the cartel should operate to maximize its total group profit.
b. Under the group profit-maximizing cartel agreement in part a, one member produces 10 units of output. It is tempted to secretly increase its output to 20 units. Assess this strategy and comment on cartel stability.
|
Explain security model of class using cnss model
: suppose that the security model is required for protection of your class. Using CNSS model, examine each of the cells and write a short statement.
|
|
Increase demand of labor
: Discuss and explain two factors that would increase demand for labor. Suppose if the market price of the good or service that a firm produces increases, what happen to the demand of labor
|
|
Groupthink in american history
: Write down the some examples of groupthink in American history? Have you ever found yourself seeking to conform in the group situation which resulted in the narrow view of some issue?
|
|
Create the new instance of problem with graph
: Assume we replace each edge cost Ce by its square, Ce^2, thereby creating the new instance of problem with same graph but different costs.
|
|
Find profit-maximizing output and price
: A company under monopolistic competition faces the demand curve: P = 500 - 12.5Q. The company's marginal cost is MC = 200 + 5Q.
|
|
Erikson stages of development
: Explain Erikson's stages of development as each applies to your own personality formation. How did success at one stage make you for meeting the next challenge.
|
|
Concept of bureaucracy
: Making direct reference to your reading assignments, discuss what is meant by the machine metaphor of modern organizations. How does this machine metaphor of organizations apply to Weber's concept of bureaucracy?
|
|
Determine average streaming media data rate
: Assume we can accurately forecast set of WAPs that the taxi will visit. Determine average streaming media data rate that we can sustain by downloading prefetched data from WAPs?
|
|
Explain how to determine line in o-n lg n time
: Explain how to determine such a line in O(n lg n) time. Provide the O(n^2 lg n)-time algorithm to pair Ghostbusters with ghosts in such a way that no streams cross.
|