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Firm A is the sole producer of a sport drink. A's marginal cost equals average cost M C = A0 = 30, and it faces market demand given by inverse demand function P = 120 - 0.562.
(1) Suppose A produces quantity q = 140 units at price p = 50. Is there any dead weight loss at current price and quantity? If yes, how much is the DWL?
(2) What is the monopoly price? What is the monopoly DWL?
Suppose that Portugal and Austria consider trading stained glass and fish with each other. Portugal can gain from specialization and trade as long as it receives more than of fish for each pane of stained glass it exports to Austria. Similarly, Aus..
"Suppose we have an agricultural valley 100km by 50km, with a polluting electricity power plant. The power plant causes pollution problems on a narrow strip of land downwind of the plant, and within this valley 10km in length and 500 m in width, but ..
Anation's consumption function (expressed in millions of inflation- adjusted dollars)is: C=200+.80*DI. what is value of autonomous saving.
The purpose of this section of the marketing plan is to describe how changes in the business environment will affect the eBay. This will be achieved by the use of the PEST Analysis, which attempts to review how changes in the political/legal environm..
AMS recently instituted an in-house recycling program. Profits of this program include not only profits to environment of recycling. Illustrate what level of Q maximizes profit of recycling.
Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4. Determine how much the consumption of this good will chang..
Consider the Steve Rogers Corp., a monopolist selling the crime protection on two markets: Hydra and SHIELD. The demand of Hydra is QD = 25 − P/2 and the demand of SHIELD is QD = 10 − P/3. The cost function is TC(Q) = 1.5Q2. Determine the equilibrium..
A) Solve Janes constrained optimization problem (i.e. what is her optimal bundle?). B) What is her level of utility at the optimal bundle?
Draw the firm's MC, AVC, and AC curves. Add a downward sloping demand curve, and show the profit maximizing quantity and price. Indiate the profit as an area on your diagram. Show the deadweight loss.
The Case in Point on America’s shifting comparative advantage suggests that the United States may have a comparative advantage over other countries in the production of high-tech capital goods. What do you think might be the sources of this advantage..
If LFC sells chicken and biscuits as a meal deal, what price would be set for the meal deal which comprising both an order of chicken and an order of biscuits
You are in the process of deciding to buy a car. You found a brand new Hyundai Elantra for $22,000. You read the reviews and they all sound good. You plan to keep it for 5 years. You do some rough calculations on the amount of expenses which includes..
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