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Question: The demand follows the function P=100-0.1Q and the supply is given by P=10 0.05Q. Find the equilibrium price and quantity and graph the market! (2 1)
b. Assume that there is an externality associated with vaccinations thanks to herd immunity. Is the externality positive or negative? Will the marginal social benefit curve be higher or lower than the private? (1 1)
c. Assume that the marginal social benefit function is given as P=130-0.1Q. Add the curve to your graph and determine the socially optimal equilibrium! (1 2)
d. Mark the consumer and the producer surplus, and the deadweight loss under private provision! (3)
e. Compute the amount of deadweight loss on the market! (2)
f. What policy tool would you propose to push the market equilibrium to the social optimum? Would you apply it on the consumer or the producer side?
A 2000-pound, counter-balanced, propane forklift can be purchased for $30,000. What is the optimal life of the forklift
part a use the first order conditions for profit maximisation to show that a monopolist will never produce on the
Write two paragraphs that analyze two points about why Gilgamesh is an epic hero. Be sure to use more than one example from the text to support each point.
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The market environment heavily effects corporate decision making ability. Define and explain the difference in executive decisions concerning pricing, product design,
Suppose that macroeconomic forecasters predict that the economy will be expanding in the near future. How might managers use this information?
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A firm that acquires a substitute product can reduce inter-product cannibalization by
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Western Coal, Inc., is considering an open-pit mine. The rights to mine on public land are expected to cost $25M, and development of the infrastructure.
If annual demand equals 1000 units, the number of working days per year is 250, Co = $300 per order and Cc = $3 per unit.
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