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Question: 1. Explain why a firm which is a monopoly seller in a market with the demand schedule p = 66.8 - 0.4q and which faces the total cost schedule TC = 220 + 120q - 12q2 + 0.5q can never make a positive profit.
2. What is the maximum profit a firm can make if it faces the demand schedule p = 660 - 3q and the total cost schedule TC = 25 + 240q - 72q2 + 6q3?
3. If a firm faces the demand schedule p = 53.5 - 0.7q, what price will maximize profits if its total cost schedule is TC = 400 + 35q - 6q2 + 0.1q3?
Using a graph, introduce a tax on alcoholic drinks in the market. How does this affect the individual firm, and the rest of the monopoly market? Differentiate between the long and short-run.Show this on a graph and explain
Two firms, i = 1,2, produce the same good. Each firm i's cost of producing quantity q_{i} is given by C_{i}(q_{i}) = q{_{i}}^{2} . The market demand is given by P_{d}(Q) = a-Q for all Q = q_{1} + q_{2}\leq a (with P_{d}(Q) = 0 for Q> a).
A competitive industry produces a unit of sulfur dioxide with every unit of its output.
you can purchase a service contract for all of your major appliances for 180 a year. if the appliances are expected to
A firm's stockholders expect a 15 percent rate of return, and there is a $22 M in common stock and retained earnings. The firm has $9M in loans at an average rate of 7 percent. The firm has raised $14M by selling bonds at an average rate of 5 percent..
Describe how the Economics principles of opportunity cost, factors of production, scarcity, and production possibilities interact to determine to what extent a nation's Gross National Product grows within a particular year
Discuss the tradeoffs a policymaker faces in choosing between larger fines, longer prison sentences, and greater monitoring in deterring crime. Give at least two reasons discussed in class why deterring crime through longer prison sentences may no..
Economic Darwinism (Thorstien Veblen). Need a 6 page (APA standard w/abstract & 4 references) explaining this term and a practical application with example.
a country is described by the solow model with a production function y k12 where y is output per worker and k is
choose and reserach a specific company that is traded publicly where there has been a pattern of change in a particular
Suppose that in a country suffering from famine, N is fixed at 2 and that c = 20. Plot the production function for life expectancy as a function of health expenditures, with L on the vertical axis and H on the horizontal axis.
A profit-maximizing monopoly faces an inverse demand function described by the equation p(y) = 50 - y and its total costs are c(y) = 10y, where prices and costs are measured in dollars.
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