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Suppose there are two groups of consumers: high demand (1) and low demand (2). Inverse demands are
p = 12 - q1, 0 < p < 12
p = 8 - q2, 0 < p < 8
a) Suppose that the monopolist charges a uniform price on the integrated market and that his marginal cost is c = 0. Find price, quantity sold, consumer surplus and monopolist's profit. Compute the social welfare (sum of consumer surpluses and profits.)
b) Now assume that the monopolist can price discriminate between the market segments. Find the prices and quantities for the low demand and the high demand market. Show that welfare goes down with price discrimination.
A personal tax cut of $50 billion will affect income differently than an increase in government spending by $50 billion because:
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Sara Shopper was buying groceries at Tim's Top-notch Grocery Store. The stock boys were stocking the shelves when they dropped a bottle of catsup. It reminded her of a pool of blood. Being a person who could not stand the sight of blood, she fainted ..
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If the current market rate is 8% interest compounded semiannually, what is the bond's price?
What are the studies that control for changes in technology, capital availability and perhaps other factors and quantify the impact of merger control on economy-wide market structure/concentration measures?
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