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Suppose that a monopolist faces two markets with demand curves
MKT1: q1: 100-p1
MKT2: q2: 100-2p2
Assume the monopolist marginal cost is constant at $20 per unit. Find the following price:
If it can discriminate price in the markets.
If it cannot discriminate.
In the early 1980s, large numbers of Japanese cars began to enter the US. Under pressure from the US auto manufacturers, the US government negotiated a Voluntary Export Agreement with Japan, under which Japan agreed to limit the number of cars it wou..
Total revenue is calculated as the quantity of a good or service sold multiplied by its market price. Thus, it is a measure of how much money a company makes from selling its product. The core objective of a firm is maximizing profit. Explain the rel..
Mr. Ess, the owner of the SS Skimpy and an American citizen, borrows money from MultiBank in London to outfit his ship, giving the bank a maritime lien. Mr. Ess sells the Skimpy to Mr. Tee, a Canadian. Mr. Tee is unaware of the lien and unaware that ..
Suppose the income elasticity of demand for good X is 2, its own price elasticity of demand is -4, its advertising elasticity is 3, and the cross-price
Consider the short-run production of a firm with a single output Q, a fixed input K (capital), and a variable input L (labour). Define average product and marginal product of labour. Define average variable cost and marginal cost.
The proposed American Health Care Act will issue refundable tax credits (i.e. your paid health insurance premium can be refunded as tax credit)
The Arizona Bay Corporation sells on credit terms of net 30. Its accounts are, on average, four days past due.
The Bureau of Economic Analysis and access the BEA interactively by selecting "National Accounts" and then "National Income and Product Account Tables." Select "Frequently Requested NIPA Tables," and find Table 1.1.1 on GDP.
Suppose that the demand curve for seats at the Frederick Keys minor league baseball stadium is given as Q^d = 6,000 - 200p. How many fans would attend a game if tickets were free and there was no limit on the number of fans permitted in the stadium? ..
What were the number of people employed and the number of people in the labor force?
The Albert Cuyp market here, famous for its offerings of cheap clothing and exotic foods, is one of the busiest in the Netherlands. But while it still attracts plenty of shoppers, customers are increasingly wary of spending their money there, said Ni..
There is a specific relationship between the marginal product of labor and the average product of labor. For the following parts of this question, use the following general function: TP=Q= f(K,L). Assume a short-run time frame.
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