Products obtained by cutting alphas forests

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Q1. A monopolist has a profit maximizing output where the elasticity of demand is -3.4 also their marginal cost is $43. Find the price which the monopolist charges. Illustrate what is the firm's marginal income when they are profit maximizing in this case?

Q2. Explain how does the economist's use of the term "rent differ from everyday usage?

Q3. Small country Alpha exports lumber products obtained by cutting Alpha's forests. Cutting the forests creates negative external effects in Alpha. As the new Alpha Minister for the interior, you are charged with devising policy proposals for dealing with the problem

Reference no: EM1313895

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Products obtained by cutting alphas forests : Small country Alpha exports lumber products obtained by cutting Alpha's forests. Cutting the forests creates negative external effects in Alpha.

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