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The market is a monopoly. A has an overwhelming market share. The demand for A for each year is given by:
Q = 250 - 5P. A has a single plant that it built for $100 million. Each year it has a loan repayment of $6 million to pay off the loan it took out to finance the plant. The plant has some equipment that is worth 10 million if the plant is closed and sold off. Each year A enters into a bulk contracts for which they pay 2 million upfront for all the electricity and water. Their marginal cost is 2 per unit.
Before the beginning and in the middle of each production year, what parts of the firm's fixed costs are sunk? What is a graph of the marginal cost curve? How to derive the marginal revenue function for A? How to derive the optimal price and quantity for A?
Suppose a tax of $.10 per unit on a good creates a deadweight loss of $100. If the tax is increased to $0.30 per unit, the deadweight loss from the new tax would be:
Use the given information to find the P-value. Also, use a 0.01 significance level and state the conclusion about the null hypothesis
What are the advantages and disadvantages of tape storage? If you think that tapes are a viable option, in what scenario(s) would you use them?
Which of the following statements best defines the economics of the so-called superstar effect in the labor market?
Why has the share of healthcare output produced by hospitals fallen? Will this trend continue? Can you think of a policy or technology change that would further reduce hospital use? Can you think of a policy or technology change that would increase h..
Because of a city tax reduction, the total fixed cost a firm must pay is reduced by $500 monthly. The firm operates in conditions of perfect competiion. If the firm seeks to maximize its profit, this cost reduction should (at least in the short run) ..
At the Rady Computer Corp (RCC), a major product is the power supply. RCC's unit cost to manufacture this item is $900, while its selling price is $1250. However, if the power supply does not sell at retail, it can be sold at a discount of $850 per u..
The labor market for nurses though cyclical often has been characterized by prolonged periods of apparent shortages. One potential explanation for the phenomenon is the monopsony power of hospitals as employers of nurses. Describe how monopsony power..
What is the implication of the efficiency wage theory for unemployment? In what way are piece rates, commissions, and royalties, profit sharing, and stock options substitutes for efficiency wages?
q.3-42 jim vendors is viewing about manufacturing a new type of electric razor for men. if advertise were favorable he
Describe the value proposition behind General Electrics Industrial Internet initiative (e.g. what job does GE’s strategic initiative aim to fulfill for its consumers?).
Use the following table of Consumer willingness to pay to answer questions 13-16. Assume the cost of producing the goods is zero. What is the total profit to the monopolist from selling the goods separately? What is a better pricing strategy for the ..
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