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Suppose the demand of the good is P = 12 - Q. A monopolist's total cost is TC = 2 + 4Q. What's the optimal price and quantity of the monopolist?
Discuss: What are the impacts to the average American household of this breach and JPMorgan Chase's reaction to it? How did the hackers accomplish this breach? Why is JPMorgan Chase having difficulty keeping cyber security staff and what can the..
Which country has a comparative advantage in producing apples when comparing to all other countries?
In 1981 Andrew Carnegie asserted that "parents who leave their children enormous wealth generally deaden their children's talents and energies and tempt them to lead less productive lives." Evaluate this statement using the labor-leisure model and e..
"The government is considering imposing taxes on the sellers of certain classes of products. The first tax they are considering is a tax on 2% milk. The second is a tax on all dairy products. Since food is a necessity, would it see the higher sticker..
Explain how MR and MC are used to determine the optimal (maximum) allocation of resources to a particular product? Assume a position of business manager in certain firm. You just realized that MC exceeds MR. What will be your decision in allocating r..
Which of the following would cause the supply curve to shift to the right in the market for gasoline?
Elucidate how on your diagram also calculate the profit maximizing output also price. Calculate the consumer surplus at the profit maximizing price also quantity.
Discuss the social and economic effects of colonization? How did it contribute the “Price revolution”? What were the main tenets of bullionism/mercantilism? What policies and events combined to bring an end to the Spanish hegemony?
Bob has a investment opportunity. In return for an initial investment of $29,000 today, he will receive the following cash flows. Year 1 $(7,600) Loss Year 2 $19,300 Gain Year 3 $22,000 Gain Bob’s interest rate is 6%. Is this a good investment?
A firm sells its product in a perfectly competitive market where other firms charge a price of $120 per unit. The firm’s total costs are C(Q) = 50 + 12Q + 2Q2. How much output should the firm produce in the short run? What price should the firm charg..
What monetary policy options are available for the Federal Reserve to increase money supply? Which is most effective? Under what economic condition is an increase in money supply desired?
What is the difference between economic profits and accounting profits, and how does this difference matter for actual business decisions?
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