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Two firms produce a homogeneous good. Both firms face a constant marginal cost of zero. The market demand curve is given by q = 90 - p (4) where q = q1 + q2.
1. Solve for each firm's revenue function (just provide the function for each firm).
Explain how a conviction changes a probationer/parolee’s legal status with regards to searches, the exclusionary rule, and Miranda warnings. Use appropriate court decisions to support your response. Identify the advantages and disadvantages of probat..
q.the kentucky derby is held the first saturday in may at churchill downs in louisville kentucky. the race track is one
The regressive impact of carbon taxes could be addressed by using tax revenues to favor low-income groups. The low-income families, who already spend a larger proportion of their income on transportation, groceries and utility bills, will be hit the ..
Define and explain fiscal policy, explain the difference and workings of expansionary versus contractionary fiscal policy, budget deficit versus budget surplus. Describe excessive increases and decreases in aggregate demand; what do they cause, how d..
When external costs are present
If a monopoly firm is earning profits, how much would you expect these profits to be diminished by entry in the long run?
Assume a firm has production technology given by f(L,K) = L^1/3 K^1/3. Assume pK = 1 = pL and compute the firm’s short-run and long-run cost functions.
A natural monopolist has a cost structure C(q) = 400 + 25q and faces market demand D(p) = 200 - 2p. Solve for the monopolist's profit, output, and consumer surplus when price is set to average cost.
Mathematical Oligopoly Problem. Suppose a duopoly is operating using the following information. The firms are denoted Firm a and Firm b. Use the Cournot solution method to find the output-reaction equations for both firms.Use the Cournot solution met..
Apply your understanding and concepts from microeconomics, to investigate and summarize the major characteristics of the emerging market form in the telecom
Idaho farmers can sell as large a quantity of their potato crop as they which,
Explain how you would calculate the price elasticity of demand of gasoline? In general terms, explain how consumer and producer surplus will change as a result of this price increase?
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