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Suppose that the demand for a good is given by Qd = 1000 − 20p and that each unit can be produced at a cost of 8.
a) Assuming this market is served by a monopolist, find the profit-maximizing quantity and price.
b) Assuming this market is perfectly competitive, find the quantity and price in equilibrium.
c) Illustrate your answers in b) and c) on a graph and show the deadweight loss of the monopoly.
Write down an individual’s optimization problem regarding consumption of good and bad behaviors using the Bellman equation representation of lifetime utility (as we did in class). Be sure to include the budget and time constraints and any constructs ..
q.suppose you want a lump sum payment of 100000 three years from now. rounded to full dollars how many current dollars
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Jane wants to buy a beautiful doll as a gift for her sister's birthday. What is the advantage to society to correct the externality?
The market interest rate increases to 10%. IN the afternoon at what price would your bond sell in the secondary market.
John advertises his used car for $5,000 in the newspaper. He would be willing to sell his car for as little as $4,000. Bill values the car at $4,800 but offers $4,500 for it and John accepts. How much producer surplus is created by this trade? How mu..
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The term "unemployment rate" in economics refers to:
Using a spreadsheet program, chart the book value of a $14 000 asset over a seven-year life using declining-balance depreciation (d = 0.2). On the same chart, show the book value of the S14 000 asset using straight-line depreciation with a scrap valu..
Between the years of 1973 and 2003, Canadian real GDP trended downwards. Deflationary (contractionary) monetary policy contributed, at least in part, to the recession of the early 1990s. There is not much of a relationship between the growth rate of ..
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