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A monopolist selling a durable good may sometimes be unable to charge more than the competitive price, because it is in competition with itself. Having initially sold some units at a price P _ exceeding its Marginal Cost MC , at any point thereafter it will want to sell additional units at a slightly lower price P __ , and so on down to P = MC . Knowing this in advance, buyers will be unwilling to pay more than P = MC to begin with. How could such a monopolist escape this trap?
Explain what is meant by the statement, "Bureaucrats are people we hate in the abstract but cannot do without in the concrete." What is the role/purpose of bureaucracy? Who heads up top levels within bureaucracy?
What is the quantity of abatement that would be observed if the two communities could not reach an informal agreement among themselves, but each community could undertake a transaction with the factory? Would there be a free rider problem, yes or ..
Providers create a demand beyond the amount the well-informed consumer would have chosen. How do we create an alignment of incentives that creates the best possible outcomes for the provider, supplier and the patient?
The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm's output is $25. The cost of other variable inputs is $400,000 per day
A monopolist faces demand P=400-4Qd and has constant marginal cost MC=80. If this monopolist engages in first-degree price discrimination, what would consumer surplus be?
draw an asad diagram which shows what happens if strong growth in ad has pushed actual rgdp to a level above potential
Let us assume that after a 2% increase in wage, women on average increased their hours worked by 1.2%. What is their wage elasticity? Would you expect the wage elasticity of men to be greater or smaller? Why?
Conduct a mock interview of one military and one civilian information security practitioner (for a total of two mock interviews) concerning information security and cyberwarfare.
The Consumer Price Index in Period 1 is 107.5. It is 103.8 in Period 2. What is the inflation or deflation rate? State answer as a percentage rounded to one decimal place.
How can the market "fail" If indeed it can, outline the ways the government can either reduce or eliminate such possibilities. Then why are some politicians or heads of government want almost all public needs met through the market mechanism
Determine which of following independent projects should be selected for investment if $325,000 is available and the MARR is 10 percent per year
Could a labor union or a minimum salary law efficiently help to raise wages.
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