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Suppose that a monopolistic seller of flux capacitors faces the inverse demand curve P = 40 - 0.5Q, and that the monopolist can produce flux capacitors at a constant marginal cost of $5.
a. How many units will an unregulated monopolist sell?
b. Suppose that the government imposes a price ceiling of $6. What does this price ceiling do to the monopolist's marginal revenue curve? Specifically, what is the marginal revenue of the 10th unit? The 68th? How about the 69th?
c. How many units will a profit-maximizing monopolist sell when the price ceiling is in place? At what price?
d. Compare the deadweight loss of unregulated monopoly to the deadweight losses with the price ceiling. Does the price ceiling improve social welfare?
The manager of a weekend flea market knows from past experience that if he charges x dollars for a rental space at the flea market, then the number of spaces he can rent is given by the equation y = 200 - 4x.
A hospital is considering to purchase one of two different medical devices to perform a specific task. Both devices will perform an accurate analysis. Device A costs $170,000 initially, whereas device B (the deluxe model) costs $180,000.
What is the equivalent uniform annual cost of these bits at 2.5%?
If more than one change occurred, then decompose the change into smaller pieces so that your explanation has a step-by-step character to it.
Then, answer these questions in the End of Unit Project: #3-1 What phase of the business cycle is the economy in? How do you know? #3-2 Do you want Aggregate Demand to move? Which way? Why?
Will this increase the number of people entering this labor market? Why or why not? Will this increase the number of people hired? Why or why not?
Place a capacitor between nodes X and Y so as to obtain a phase margin of 60°. What is the unity-gain bandwidth under this condition?
two people live alone in isolated regions, have the same resources, grow potaotes and chickens, if one devotes resources to growing potatoes they raise 200 lbs a year. if they grow chickens they raise 50 a year. if they apportions some resourcs to ..
Assume that a person's utility function is U(x,y)=x^2y^2 (yielding MRS=y/x) The price of X is $2 and the price of y is $5. Income is $100. What is the optimal choice? If a quantity tax of $0.50 is placed on good x, what is the new optimal choice
What was the impact of the failure of this major investment bank on Aggregate Demand? Your answer should connect to.
Based on the market research, a recording company obtains the following information about the demand and production costs of its new CD: Price= 1,000-10Q Total Revenue=1,000Q-10Q squared Marginal revenue= 1,000-20Q Marginal Cost= 100+10Q
Suppose this the demand for water balloons fit the function D(P, Ps)=.2P^(-.5)Ps^(-.2) where P is the price of water balloons and Ps is the price of super soakers (an advanced squirt gun technology). Based upon this demand curve, are super soakers..
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