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Suppose that a monopolist faces linear demand given by
Q(p)=100-2*p
The monopolist also pays a marginal cost of $1 for each unit produced.
What is the optimal quantity that the monopolist will charge to maximize its profits?
According to the Bureau of Economic Analysis, during the recession of 2007-2009 household saving as a fraction of disposable personal income increased from a low of just over 1 percent in the first quarter of 2008 to 5 percent in the second quarter o..
lease answer the following question in your own words (between 100-150 words).Why wouldn't it make sense for an individual earning $500/ hour and working 10 hours a day to spend 3 hours (taken from the 10 hours) to shovel snow from their driveway? FY..
In each of the following situations, the possible bundles contain apples and oranges and either 0, 1 or 2 of each. An example bundle would be 2 apples and 1 orange = (2, 1). In each part, there is a description of a set of preferences. In bundles wit..
Draw the Cost effectiveness Frontier - What concept can you attribute this change in treatment choice before and after insurance? Explain.
A small business owner purchased an HP computer system for $14,000. After making a down payment of $2,000, he agreed to make payments of $500.00 per month for 24 months. Find (a) the total instalment cost (b) the annual percentage rate.
Discuss how you can use the laws of demand and supply to explain the following scenarios: After world gasoline prices jumped in the late 2000s, global bicycle sales rose to more than 1 million per month. the employees at the gasoline station would ha..
Assume that an individual has 80 hours per week that can be distributed between two normal products work and leave ( leisure ) . Draw a bid curve for an individual who can earn a maximum of £ 10,000 per week if the individual does not have any leave ..
Consider a Cournot oligopoly consisting of four identical firms producing good X. If the firms produce good X at a marginal cost of $7 per unit and the market elasticity of demand is −2, determine the profit-maximizing price.
Elucidate what evidence of excess supply or excess demand can you cite in these examples.
LED light bulbs use only 20 to 25 percent of the energy used by traditional incandescent bulbs. Even if all consumers replace their old bulbs by the LED bulbs, do we expect that the arrival of LED light bulbs will decrease energy consumption for ligh..
Calculate the currency-to-deposit ratio (cr), and the money multiplier (m) given the above values. Calculate total required reserves (RR), total actual reserves (AR) and the monetary base (MB). Now assume the FED lowers the required reserve ratio to ..
Suppose an environmental regulation requires all polluters to reduce emissions by 50%, even though the cost of pollution control differs widely from one polluter to another. Why might this be inefficient, using the definition of efficiency developed ..
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