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The Kinked and the monopolist demand curves are the same" Explain! (12 MARKS) c) The cost function for a firm is given by TC = 6,000 + 12.5Q. The firm sells output in a perfectly competitive market and other firms in the industry sell at a price of P = 25 - 0.5Q. (i) What level of output should be produced to maximize profits? (08 MARKS) (ii) The firms have colluded to form one firm, what is the profit maximizing price? (08 MARKS) (iii) Compare and explain the different profit maximizing levels
if you borrow 3000 and pay back 3410 after 1.5 yearsa what is the interest rate charged if the payment period is 1.5
This innovation could save farmers $1 billion a year in crops now lost to frost damage. If this technology becomes widely used, what will happen to the equilibrium price and quantity in, for example, the potato market?
Merchant banking refers to:Banking services that are only available to retail merchants.Banking services that are only available to business but not the general public.
Through the energy crisis of the 1070s, and again in the last five years, Congress bemoaned the "windfall" and "price gouging" profits of the major oil companies. In the 1970s Congress imposed an "excess profits tax" on these companies.
suppose that omars marginal utility for cup of coffee is constant at 2.5 utils per cup no matter how many cup he
Explain. A family buys a new refrigerator, Aunt Jane buys a new house, Ford sells a Mustang from its inventory, You buy a pizza, California repaves Highway 101, Your parents buy a bottle of French wine, Honda expands its factory in Marysville, Ohi..
Explain how the marginal product of labor and the marginal product of capital are used in decision-making. Take into account how productive each is per dollar spent and make up your own example of the balance.
Presume that a monopolist charges (a uniform) price P = $24 and the price elasticity of demand is -6. We can conclude that its marginal cost should be:
The price of apple juice decreases, and the wage rate paid to orange grove workers increases-equilibrium price_________equilibrium quantity________
Why is income inequality regarded by many people as a form of market failure and describe how tax creditsare used in New Zealand to modify the distribution of income
Explain the factors of production and give an example for each one and what is the difference between a normal good and an inferior good? How does this relate to the demand curve
Country A has 2000 units of labor and can produce two goods, manufactures and food.
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