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A monopolist has two specific demanders with demand equations: qA = 10 – p and qB = 10– 2p. This monopolist implements an optimal two-part tariff pricing scheme, under which demanders pay a fixed fee a for the right to consume the good and a uniform price p for each unit consumed. The monopolist chooses a and p to maximize profits. This monopolist produces at constant average and marginal costs of AC = MC = 2. What are the monopolist’s profits are equal to? What is the average price paid by demander B?
Discuss why the monopolist chooses a level of output that creates deadweight loss, and whether the level of output is equilibrium. Include an illustration of your numerical example, and refer to it throughout your discussion.
Plot the average total cost, average variable cost, and marginal cost curves for a single firm (remember that values for marginal cost are plotted at the midpoint of the respective intervals) What is the firm's supply curve? How many chairs would the..
If inflation averages 4 percent per year and your return on an investment, based on then-current dollars (market rate) is 10.5 percent, what is your real return on investment?
The absolute value of Mars' MRS at his current consumption bundle is strictly greater than 2. Mars has convex preferences. Which of the following statements is (are) true? Justify your answer graphically.
Illustrate what does the term intellectual Property encompass also why are companies so concerned about protecting it
Find at least one scholarly article that criticizes the goal of shareholder wealth maximization. Briefly summarize the criticism(s) offered and discuss whether you believe the criticism is valid. In particular, does the article make you question t..
U.S. policy to increase the miles per gallon (mpg) of new cars is to mandate an average mpg for cars sold by U.S. manufacturers. In many countries within the European Union, the policy is to tax gasoline so that the price per gallon at the pump is st..
Are there any advantages of mass marketing i.e. treating a market segment as homogeneous and marketing to the whole market with one marketing mix?
A firm in a purely competitive industry is currently producing 1,000 units per day at a total cost of $450. If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275. If e..
Assume good X is normal. Plot a graph to illustrate the income and substitution effects of an increase in PX, holding PY and I constant. Now suppose X is a Giffen good. Plot a graph to illustrate the income and substitution effects of an increase in ..
Consider a new per-worker employment tax on workers (where previously there was no tax). Outline the consequences of this tax on the local labor market. Use appropriate, clear, and well-labeled diagrams. In your answer show (1) the burden of the tax ..
Analyze marketing strategies in reaching markets with their products or services. Continue with a detailed description of marketing management strategies used in the implementation of the marketing plan. Conclude with the integrative strategies used ..
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