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A monopolistic firm faces the following demand curve. Q = 8000 -10 P This monopoly's cost function has been estimated as follows: TC = 480,000 + 40 Q a. What price should this monopoly charge to maximize its profit? b. What would be its equilibrium profit? c. What price should it charge if it were to maximize its revenue? d. What would be its profit if it maximized its revenue? e. If this monopoly were to behave like a competitive firm, what price should it charge and what quantity should it produce? f. Would this monopolist still make an economic profit if it were to behave like a competitive firm? g. What is the break-even quantity of this monopoly?
In an oligopolistic market, firms pay close attention to the strategies of their rivals. In monopolistic competition, with a large number of sellers, it is assumed that there is not this kind of rivalry, or interdependence. Why is there probably some..
Suppose the government of a desert community wants to punish excessive water usage, where "excessive" is defined as any usage greater than 100 gallons/week. to do this, the government paces a flat $100 income tax on anyone who consumes more than 100 ..
Assume that initial GDP is $1,000 and we want to expand it to $1,600. Average MPC for the country is 2/3. What should be the new level of government spending if the initial level is $100. Also how much of a tax policy change reach to the same results..
Which of the following is an example of price discrimination?
Consider a market with one large firm and many small firms. The supply curve of the small firms taken together is S(p) = 100 + p. The market demand curve for the product is D(p) = 200 - p. The cost function for the one large rm is c(y) = 25y. (a) Sup..
Air China is regularly selling out the cargo belly hold capacity on its scheduled Beijing to Los Angeles passenger flights. Air China is considering leasing a Boeing 747-400 freighter (originally a passenger aircraft, but converted to all- cargo) to ..
suppose a monopolist can separate its customers into two groups. If the monopolist practices price discrimination, it will charge the lower price to the group with: The XYZ Company is a profit-maximizing firm with a monopoly in the production of UIC ..
Organizational behavior-A strong social and physical work context means that environment is supportive. Give real examples of how this works.
You find that your paycheck for the year is higher this year than last. What does that mean that your real income has increased. Explain carefully.
Ang Electronics, Inc., has developed a new DVDR. If the DVDR is successful, the present value of the payoff (when the product is brought to market) is $34.7 million. If the DVDR fails, the present value of the payoff is $12.7 million. If the product ..
Labor turnover during periods of economic expansion is largely the result of: Full income. If leisure is a normal good, an increase in nonlabor income will cause the quantity of labor supplied to:
Suppose that the demand curve for seats at the Frederick Keys minor league baseball stadium is given as Q^d = 6,000 - 200p. How many fans would attend a game if tickets were free and there was no limit on the number of fans permitted in the stadium? ..
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