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A monopolist faces a demand curve given by P = 100-2Q. Labour is his only cost, and the wage rate is fixed at $8 per worker. Each worker has a constant marginal product MPL = 2, meaning that each additional worker produces two units of output.
(a) The MC of each unit of output will be constant here, what is it?
(b) Since you now know the MC of production, what is the profit maximizing output level for the monopolist?
(c) What price will the monopolist charge for his output?
(d) How many units of labour will be employed?
The estimated salvage value was $30,000. At the end of the 5th year the asset was sold for $90,000. From a tax perspective, what is happening at the time of disposal, and what is the dollar amount.
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Why should an auditor corroborate evidence for inquiry?
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If R and F both have 12 hours of labor that they can give to catching fish or goats, and R requires 1 hour to catch a fish and 2 hours to catch a goat, F requires 6 hours to catch a fish and 3 hours to catch a goat. They are able to trade at Pf=Pg..
Why or why not? What would you propose be done for Africans to overcome any negative effect of European colonialism?
Now suppose one big firm comes and buys out all of the firms in the cartel. This monopoly somehow miraculously is able to perfectly price discriminate. How much will this firm produce What will be the deadweight loss created by this monopoly
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