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Q1. Assume that in the preceding problem, the government levies an excise tax of $5 per dose on the monopolists. Illustrate what would happen to the monopolists' profit-maximizing output and price? Illustrate what would happen to consumer and producer surplus? Explain how more money would the government collect due to the tax? Illustrate what would be the size of the resulting deadweight loss relative to the competitive outcome?
Q2. Assume you elasticity of demand for your parking lot spaces are -o.5, and price is $20 per day. If your MC is zero, and your capacity at 9 A.M. is 96% full over the last month, are you optimizing?
Suppose that the demand for healthcare services is perfectly inelastic while the supply curve is upward sloping. Analyze the impact.
Is this analysis consistent with the proposition which money has real effects in the short run but is neutral in the long run.
Relative to Tom, does Dick require more bananas, less bananas, or the same number of bananas to give away an apple.
Illustrate what would be the best advice to give him knowing which this is his only source of income.
What is the optimal transfer price for the basic plastic item . At what price should the marketing division sell its product.
The benefit of cutting down a forest is $1 million now. the environmental cost of that harvest is $10/year forever.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Suppose a consumer is at an optimum, consuming 6 hamburgers a week at a price of $1.50 each and 10 donuts a week at 50 cents a donut.
Offering group medical coverage to large firms and requiring all employees to participate in the coverage.
Coke could have followed the price per unit down, but it didn't. Total soft drink demand increased, and Pepsi took a larger share of the demand.
Similarities in the definitions of management quoted from authors of management textbooks
A brewery is considering two potential production investments.
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