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ASSIGNMENT ONE
What are the characteristics of monopolies and why is the output inefficient? Under which circumstances are they likely to occur?
Suppose that the government is the only provider of water. The market demand function reads Q(P) = 50 - 2P. The government's total cost for producing water are described as follows: TC(Q) = 100 + 10Q.
What price will the government charge if it wants to ensure an efficient allocation of water?
What price will the government charge if it wants to maximize profits?
Calculate the economic profit in both scenarios.
Assignment must be Type written, font-times new roman, font size-12, Line spacing 1.5, justified. Use Harvard referencing style. Note especially for distance students: No assignment shall be submitted during residential school. Stick to the deadline given. Any assignment brought in during residential school shall attract a zero mark as maximum score. Your cover page for assignment must include the following; Name: (names must be written according to how it is captured on unilus portal system), Computer number: (must be written in full i.e. (AFIN132045….), Mode of study: (is it distance, part time or full time), Program of study: (bachelor of science in economics, Human Resource Management) and Note: Full time and part time students are to submit assignment in class on the due date. Do not bring at any other time.
The local economists estimate that Y is equal to $12,000 and Monopoly has set Pc at $10. If Monopoly's MC of serving another customer is equal to $1, what is the profit maximizing price for seasonal passes?
They tricked the free slaves by promising them the "best" land in the hills, where in actuality "planting was backbreaking, the soil slid down and washed away the seeds, and the wind lingered through the winter." The farmers claimed that high up in t..
Today's Friday night, and you are just about to leave your room to attend a party. However, a copy of New York Times catches your eye.
Imagine for a moment that you're the general manager of a local, upscale grocery store that is part of a national chain. You've just gotten word from corporate headquarters that all stores must install at least two self-checkout machines.
Describe critically growth maximisation model of morris - Grade Level : Post Graduate Level
Determine whether each firm has a dominant strategy and, if it does, identify the strategy - Determine the optimal strategy for each firm.
What is the labor-intensive good and what is the Marginal Rate of Transformation impact?
recently hired to replace the manager of the Roller Division at a major conveyor-manufacturing firm, despite the manager's strong external sales record. Roller manufacturing is relatively simple, requiring only labor and a machine that cuts and cr..
q. what is opportunity cost? explain with the help of an example why assumption of constant opportunity cost is very
For what reasons may the NAIRU increase?
How many tires should it produce in order to maximize its profits? What's DurableTires' profit in this case? Should the elasticity of demand be greater, equal, or less than 1 at the profit-maximizing price and quantity? Explain
Explain the difference between the short run and the long run as it relates to the firm's production function. Why is this distinction important to a firm's manager?
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