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Case: Consider a monopolist that has a constant marginal cost of $1 ?per unit. The demand for the product has a choke price of $9. ?If the price was $4, ?the quantity demanded would be 5.Consider that there is a shock to the monopolist's costs and it increases by $1 ?per unit.
1. ?What is the new price that the monopolist would set?
2. ?What is the new quantity produced?
3. ?What is the new profit of the monopolist?
4. ?What is the new consumer surplus?
5. ?What is the new producer surplus?
6. ?Evaluate did the monopolist transfer the cost shock to the consumers in its entirety?
What happens to the labor demand curve if the level of technology improves? (Hint: What happens to MPL when technology improves?) Explain. How is the real wage af- fected by an increase in the level of technology?
Calculate the firm's profit or loss. Is the firm making a profit or a loss and explain the Short Run Shut Down Rule. Should this firm shut down? Please explain.
Suppose there are two very similar countries. Both countries have the same population and neither is experiencing population growth
Rather than having stopped school with a high school diploma, by age 22 Poppy obtained an undergraduate degree in public health. How would this education decision impact her optimal level of health?
Read the two articles below that discuss why fuel prices fluctuate. Research two of these types further. Locate two JOURNAL articles which discuss this topic.
Consider the market for a product with two types of potential users: group a and group b. Let's assume that the population is normalize to 1 and there are 0.5 individuals of group a and 0.5 individuals of group b.
Consider two approaches to reducing emissions of CO2 into the environment from manufacturing industries in the United States.
suppose you now own a taxi company in aberdeen and you are the sole producer of this service. you have a taxi monopoly
Prepare a report on impact Of No Frills Airlines
Determine the firm's profit function and the level of output at which Firm Perfcomp should produce in order to maximize profits. Confirm that this quantity represents maximum profits for the firm by using the second-order condition.
Do economists have any particular expertise at making normative arguments? In other words, they have expertise at making positive statements.
Consider a firm that faces the demand curve : P= 1050 - Q + 0.2B^(0.5) and has total cost function: TC = 50Q + B, where B is the level of advertising
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