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1.Patents and the Incentive to Invent
Suppose that, in order to invent a new product, a firm has to spend $120 onresearch and development. If the firm invents the product the government will grant it a patent for t years, but after t years enough firms will enter the market so that each firm earns zero profits in the long-run.
If the firm's annual costs are: C(Q)=Q^2+3Q+2
And the annual demand for the product is: QD =15-1/2pWhat would t have to be for the firm to be willing to invent the product?
2.Marginal Revenue of a Monopolista. Prove mathematically that marginal revenue is always less than price, P(Q).b. Explain this intuitively as well.You may use a graph to help you. Remember marginal revenue is the money the firm takes in after selling an additional unit
In 1885, first class postage for a one-ounce letter cost $0.02. The same postage in 2011 costs $0.46. What compounded annual increase in the cost of first-class postage has been experienced over this period of time
What are the highest and lowest payments from the writer that the beekeeper farmer team will accept for the sixth day Assuming that the farmer can dispose of $7 from the writer as she wishes, what range of payments will the beekeeper accept
If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation In contrast, suppose that the CPI was 110 last year and is 108 this year. What is this year's rate of inflation What term do economists use to describe this s..
(Y) Dollars per unit 3.00, 4.50, 5.00, 6.00, 8.00 (X) Units per Period 5,000 - 8,000, - WHAT IS THE MONOPOLIST'S PROFIT-MAXIMIZING OUTPUT - At the profit-maximizing output rate, what are the monopolist's average total cost and axerage revenue
Explain what happens to the coefficient on coll in terms of its magnitude and its statistical significance when points , rebounds , and assists are added to the regression. Why do you think this happened?
Use the given equation and determine the demand equation as a function of Ps if the price of other pastas (Po) is $2,
A project generates decreasing cash flows, $10,000 one year from now, decreases $1,000 every year and the project at the end of year 6 (6 years from now). At an annual interest rate of 12%.what type of Gradient is this
A woman managing a photocopy establishment for $25,000 per year decides to open her own duplicating place. Her revenue during the first year of operation is $120,000, and her expenses are as follows: Salaries- $45,000, Supplies $15,000, Rent- $10,..
Demand function: qd=5,000-50p, where qd is quantity demanded and p is price per unit. A. How man units with be demanded between $10, and 20 Between $20 and 30 B. What is the arc price elasticity of demand $10, and 20? Between $20 and 30 C. What is th..
Wilpen Corporation, a price-setting company, manufactures nearly 80% of all tennis balls purchased in the United States.
The supply curve for product X is given by QXS = -340 + 10PX . a. Find the inverse supply curve. P = + Q b. How much surplus do producers receive when Qx = 350? When Qx = 1,000?
At the end of each year, a worker invests $2,000 into an account the draws 4% interest. The worker makes every payment for the next 30 years except for the payment at the end of year 10. That is, no money is invested at the end of year 10. How muc..
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