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Problem: Consider a monopolist facing market demand P=100-Q. Suppose this monopolist has constant marginal cost of $40 and fixed cost of $20. Derive this monopolist's profit-maximizing quantity, profit maximizing price, profit earned, consumer surplus, producer surplus and deadweight loss resulting from the existence of this monopoly.
Imagine that you are trying to value a particular piece of wilderness that people use for recreational hiking and cycling. While this area has no entrance fee, statistics have been kept on who visits and how frequently they visit the area.
Two firms compete in the breakfast cereal industry producing Rice Krinkles and Wheat Krinkles cereal, respectively. Each manufacturer must decide whether to promote its product with a large or small advertising budget.
How is a Large open economy affected when a trade deficit in the rest of the world gets larger?
It will also require additions to current assets of $30,000 at the beginning of the project, which will be fully recoverable at the end of the fourth year.
Sean gains revenue from the additional engine he sells, he also loses revenue from the initial four engines because he sells them all at the lower price
Which of the following is true of the Restatements of the Law?
What is the equation for aggregate demand (AD) for this economy? Calculate the equilibrium level of income and the multiplier. Calculate the size of the budget surplus (or deficit) for the economy
Given the following total-revenue function tr=9q-q2 (a) derive the total-, average-, and marginal- revenue schedules from q=0 to q= 6 by 1's
Using the graph below, draw the appropriate shifts in the demand and supply curves to explain these two phenomena
Explain a "how-to" for conducting job analysis research. Describe relevant and irrelevant information needed for job analysis (what it is and what it is not).
What are supply shocks? Explain what effect adverse and favorable supply shocks have on the supply curve.
Jerry has $12 a week to spend on yogurt and berries. The price of yogurt is $2, and berries are $4 a box. How do Jerry's consumption possibilities change.
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