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The average avoidable cost for a fringe firm is AAC(q) = 20/q = 5q. The marginal cost function for a fringe firm is MC = 10q . There are 10 fringe firms. The marginal cost of the dominant firm is 2 and the demand function is Q = 100 - P. (a) What is the supply function of the fringe? What is ? (b) What is the residual demand function for the dominant firm? (c) What is the profit-maximizing price of the dominant firm? (d) Compare monopoly profits to the profits of the dominant firm. Which market structure is socially preferable, dominant firm or monopoly? Why?
Duopolists A and B face the following demand curves: QA = 100 - 2PA + 5PB and QB = 120 - 3PB + 4PA. If both firms have zero marginal cost, what are the profit-maximizing prices and quantities?
?In which of the following situations is a budget surplus most likely to occur? The government of Crossland wants to influence its exchange rate. It will do so by buying and selling:
A monopolist faces a demand curve given by P=105-3Q P is price, Q is quantity demanded. Marginal cost of production is $15.00. No fixed costs. Explaim how much output in order to maximize profit.
Assume there is a central city school district in which the student population is predominantly black. What will there be a salary differential between black and white teachers.
q.suppose when russia opens to trade which introduced automobiles a capital-intensive good.a. according to the
If the government sets a maximum price for gasoline above the equilibrium price:
Which resource of production is the only one which nations can significantly increase in the short term.
Is it appropriate and ethical for employers to look into social networking sites of employees when they are not working? Argue that it is not appropriate and ethical..
which of the 3 determinants of macro performance (internal market forces, external shocks, and policy levers) would you consider the most important in terms of gauging the success/failure.
Illustrate what should be the production level if the producer operates in a monopolistic competitive market where the cost of software at each possible quantity
Many people believe that we never will create eternal life here on earth, but there are many more people who believe that taxation can be eliminated. Are you one of those people? Discuss some ideas of possibly financing the government without taxatio..
Efficiency-wage theory suggests that to improve workers performance, firms should:
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