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Consider a monopolist with the following demand curve: P=200-2Q. The monopolist faces MCm=ACm=20.
a. Solve for the profit-maximizing level of monolopy output, price, and profit.
b. Suppose the monopolist has the oppurtunity to spend $A on advertising to raise its demand to P=240-2Q. Solve the most that the monopolist would spend on advertising in this situation.
Opportunity cost is associated with choosing a particular decision that is measured by the forgone benefits of the next-best alternative. What example would you pose to explain this?
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How is the equilibrium price determined? What happens if the price is above the equilibrium price? What happens if the price is below the equilibrium price?
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In your opinion, does the Houston Medical Center, in which many hospitals gather, represent an example of perfect competition.
Pat eats eggs and toast for breakfast and insists on having three pieces of toast for every two eggs he eats. Derive his utility function. If the price of eggs increases but we compensate Pat to make him just as "happy" as he was before the price cha..
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Boris budgets $40 week for his morning coffee with milk. He likes it only if it is prepared with 3 parts coffee, 2 part milk U= min {3/2M,C}. Coffee costs $2/oz, milk $1/ oz. Graph the two budget constraints and the two optimal bundles with coffee on..
Discuss several reasons why the labor market is not as felxible as it used to be? Identify and outline (in detail) the three reasons the article gives for why there might be "structural obstacles to job growth"
A system of deposit insurance:
The Federal Open Market Committee directive is a
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