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A firm in a perfectly competitive market has the following cost function:
C = 1/3q3 – 5q2 + 30q +10
If the market-clearing price is 6, obtain the profit maximising level of output.
Please put the quantity of Good X on the horizontal axis, and the quantity of Good Y on the vertical axis. Be sure to label your graph carefully and accurately. What is the slope of the budget constraint?
An economy is currently in equilibrium and the following figures refer to elements in its national accounts and what is the current equilibrium level of GDP and what is the level of injections
What is the most you would pay to call her and ask for the result? Be sure to show the decision tree that fuels your reasoning.
Suppose you are the manager of College computers, a producer of customized computers that meet specifications needed through the local university.
What is the monopolist's profit-maximizing level of output - what price will the profit-maximizing monopolist charge and how much profit will the monopolist make if she maximizes her profit?
Explain, using diagrams, why a monopoly can potentially earn super-normal profit in both the short run and the long run, while perfectly competitive firms can only earn normal profit in the long run.
What is the first order condition for profit maximization for firm 1? compute the optimum quantity x1 for firm 1 as function of quantities x2 and x3.
Assume that all consumers have identical demand curves for local telephone service, and the producer of such service is a monopoly. Compare price, output, profit and consumer surplus when (a) the monopoly set a uniform price fir the product. (b) t..
The point M on the accompanying production possibilities curve depicts the mix of output that is determined by the free market. In your opinion as an economist, where is the socially optimal mix of output Mark this on the PPC as point S
Demand for a managerial economics text is given by Q=20,000-300P. The book is initially priced at $30.00. Write the demand equation for which the price elasticity of demand is zero for all prices.
Hypothetically, if Apple and Samsung decided to collude, instead of suing and counter-suing each other, what would the equilibrium prices and quantities be? Assuming each firm keeps the profit from its own market, what are these profits?
What is the condition that δ has to satisfy in order for the collusion to be sustained in both states and which can be sustained in equilibrium and gives the highest intertemporal profit?
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