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A retailer has an exclusive license to sell a line of handbags. The bags are so distinctive that consumers do not consider any competing offerings to be close substitutes. The retailer thus can be treated as a monopoly. The demand for the handbags is given by P=300-0.1Q. The marginal cost is constant and equal to 40, so variable cost is 40Q. The fixed cost is 90,000. Find the monopolist's profit-maximizing quantity.(Format: answers must be within 2 of the true value to be counted as correct. Do not include commas, dollar signs, or plus signs.)
Refer to "In the News" below: In the News: The Obamas' Taxes Gross Income Deductions Wages $ 395,188 State/local taxes $ 52,527 Interest 8,066 Property taxes 25,742 Dividends 9,997 Mortgage interest 49,945 Tax refunds 1,151 Charity 245,075 Book royal..
Show the effect of a small increase in the interest rate on the intertemporal budget constraint. Assuming standard preferences for current and future consumption (as shown in Figure 11.4), what will be the effect of the increase in r on the savings r..
The equilibrium price and quantity in a market usually produces allocation efficiency because marginal benefit and marginal cost are equal at that point. Explain how a market for human organs would affect the supply curve and equilibrium price and qu..
(Population growth and technology growth) Consider an economy that is described by the production function Y= K^1/2 (LE)^1/ 2. Moreover the depreciation rate of capital is (delta) o = 0.15, the population growth rate is n = 0.05 and the technology gr..
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What is the difference between the optimal level of total consumption minus the amount of total consumption generated by the market
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You have just purchased a municipal bond with a $10,000 par value for $9,500. You purchased it immediately after the previous owner received a semiannual interest payment. The bond rate is 6.6% per year payable semiannually. You plan to hold the bond..
Which of the following might most closely represent a monopsonist? In a monopsonistic labor market, the marginal-factor-cost curve is
Suppose the Fedral Reserve lowers the gap between the discount rate and the federal funds rate to 0.5 percentage points. graphically illustrate this policy using the federal funds market and conclude what effect, if any, this will have on the economy..
American rice producers have extremely high production costs, due to some structural problems. Therefore, if not supported by the government, they will not be able to compete with foreign producers. Analyze two supportive policies intended to maintai..
A consumer's bundle increases two normal goods, good X and good Y. According to the income effect, a(n)____ in the price of good X or _______ in the price of good Y will cause the consumer to buy less of good X.
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