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Suppose a monopolist faces the following demand curve:
P = 596 - 6Q. If the long run marginal cost of production is constant and equal to $20.
a) What is the monopolist's profit maximizing level of output?
b) What price will the profit maximizing monopolist charge?
c) How much profit will the monopolist make if she maximizes her profit?
d) What would be the value of consumer surplus if the market were perfectly competitive?
e) What is the value of the deadweight loss when the market is a monopoly?
f) What is the value of the Lerner Index for this monopoly?
Predict what would happen to the equilibrium price of marijuana if it were legalized. Use demand & supply analysis to answer. Provide verbal and graphical explanation.This paper has to be three pages.
second-degree price discrimination is also known asblock rate setting.captures all consumer surplus.sets a different
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Suppose you are appointed to chair the Federal Reserve. Your twin goals are to maintain low inflation and to stabilize economic activity- that is, to keep output at potential. Why are these appropriate goals for monetary policy?
Dr. Susie Wang is president of a subsidiary of the world's largest concrete machine manufacturer (REESE, Inc.). Her job is to organize and operate a newly formed global business consulting company (Concrete Network Services, i.e., CNS)
What are the marginal rates of substitution for each person and what is the formula for the contract curve and draw an Edgeworth box, labeling carefully, and indicate the contract curve.
1.you are the ceo of exxonmobil your head of research department informs you that his chemists have devised an additive
explores a case for which eco-labeling was used to skirt WTO rulings that force countries to treat products as equal even if the production process violates an environmental rule in the importing countries. Are free trade and environmental sustain..
the market for gravel has been estimated to have these supply and demand relationshipssupply p 10 0.01qdemand p
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Should poorer 1rd World nations refuse "models based on economic laws" of universal validity and there are no universal laws. Describe if you agree.
differentiate between reliability and character-based trust. explain why is character-based trust critical in
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