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Suppose a monopolist faces the following demand curve:
P = 140 - 6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs.
a) What is the monopolist's profit maximizing level of output?b) What price will the profit maximizing monopolist charge?c) How much profit will the monopolist make if she maximizes her profit?d) What is the value of consumer surplus?e) What is the value of the deadweight loss created by this monopoly?
A man borrowed 750 dollars from a bank. He agrred to repay the sum at the end of 3 years, together with the interest at 8% per year. How much will he owe the bank at the end of 3 years
The firm prefers to have type M in job D type U in job E. In the best outside option, the candidate is paid $80,000 a year. The monetary value of disutility in the job D is $15,000 for type M and $30,000 for type U.
I want to deposit $10,000 now and $15,000 at the end of five years in a bank that pays 15% interest compounded semiannually. I want to withdraw an amount every year for the first five years and to withdraw $500 more for the following four years.
A contractor has been chosen to perform a government project. To avert the moral-hazard risk that the contractor will behave inefficiently, government is considering how to use contractual incentives to avoid cost overruns. Government has a target..
Many states offer drivers an opportunity to customize their license plates for the price of a small premium paid to each state; these plates are known as vanity plates. When vanity plates were originally introduced in Texas they could be acquired ..
Suppose that the total revenue received by a company selling basketballs is $600 when the price is set at $30 per basketball and $600 when the price is set at $20 per basketball. Without using the midpoint formula, can you tell whether demand is e..
Acme Water is a privately owned firm that is sole supplier of water to a rural town in Pennsylvania. The owner of company has provided the manager of firm an incentive to maximize company's profits,
An electronic device is available that will reduce this year's labor cost by $10,000. The equipment is expected to last for 8 years. If labor costs increase at an average rate of 7% per year and the interest rate is 12% per year: a. What is the m..
A monopolist's has a constant marginal and average cost of $10 and faces a demand curve of QD = 1000 - 10P. Marginal revenue is given by MR= 100 - 1/5Q. A. Calculate the monopolist profit maximizing quantity, price and profit.
assume that the FFS price was $100 per visit and the average patient made eight visits per year. A competing managed care organization came in and charged $80 per visit, providing seven visits per year. Calculate the change in total expenditures.
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of flavored gourmet popcorn in a popular mall. As shop owner and operator, you have observed that your daily sales tend to follow a pattern that can be stated as: QP = 500 - 100PP + 1.2..
Let the market demand for rye bread be given by Q = 500 I - 250Prye 400Pwheat, where Q is monthly demand in number of loaves, I is average monthly income in dollars, Prye is the price of a loaf of rye bread, and Pwheat is the price of a loaf of wh..
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