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The reason a profit-maximizing natural monopolist cannot set price equal to marginal cost is that it would:
a. then be forced to produce more than it could sell.
b. then be forced to produce more than the socially optimal level of output.
c. earn excessive profits, which would attract new firms into the market.
d. suffer losses since price would be less than average cost.
How large is each individual consumer surplus? How large is total consumer surplus? Calculate producer surplus by summing the producer surplus generated by each sale.
A brief overview of game theory.
Show the Equivalence of tariffs and quotas, This requires three graphs showing the effect of tariffs and quotas in situations of a reduction in domestic supply, a decrease in domestic demand, and an increase in domestic supply
the demand curve is given byqd 500 - 5px 0.5i 10py - 2pzwhereqd quantity demanded of good xpx price of good xi
Suppose that a firm is currently employing 10 workers, the only variable input, at a wage rate of $100. The average physical product of labor is 25, the last worker added 10 units to total output, and total fixed cost is $5,000.
The governments at certain times have said they are going to cut the federal budget to decrease government spending. What are the two types of government spending categories and what roles do they play.
Some years ago, conservation groups paid cattlemen in the Western United States to move their herds away from wild buffalo herds so that the buffalo would have more feed and would not have to compete with the cattle. What is the relevance of the Coas..
Global Investment Group operates in a perfectly competitive industry with the following Cost and Revenue data: What is the loss minimizing output level for the firm?
Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as macroeconomic or microeconomic.
Find an appropriate article on the Internet
The French government has recently increased the retirement age, a decision which is opposed through a large fraction of the French public, especially in students
A company has the potential to earn $100M in the horizon year of a growth product that is expected to have a profit growth of 5% per year in perpetuity beyond the horizon year. If the company’s discount rate (WACC) is 12%,
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