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Using a spreadsheet like the following, entering formulas for the total revenue and consumerâ€TMs surplus, and given the following demand curve of a consumer for a monopolistâ€TMs product Q=14-2P (a) find the total revenue of the monopolist when it sells 6 units of the commodity without practicing any form of price discrimination What is the value of the consumersâ€TM surplus? (b) What would be the total revenue of the monopolist if it practiced first-degree price discrimination? How much would the consumersâ€TM surplus be in this case? (c) What if the monopolist charged P= $5.50 for the first 3 units of the commodity and P= $4 for the next 3 unitsâ€"What type of price discriminiation is this?
Sheila budgets $9 per week for her morning coffee with milk. She likes it only if it is prepared with 4 parts of coffee and 1 part milk.
Elucidate the meaning of value added and its importance in the income approach. Consider the following data for the selling price at each stage in the production of a five-pound bag of flour sold by your local grocer. Calculate the final market va..
Illustrate what is the macroeconomic relationship with the article, "Squaring the Economic Circle" by Art Buchwald.
Suppose you have estimated the consumption function as C=250=0.90Yd where Yd is disposable income. what is the corrosponding saving function?
Why these former employees faced difficulties because the market for their very technical skills was declining. These workers were.
Explain how scarcity affects the following decision-makers: The president of the United States A business executive A city manager The mother of a baby.
Austria has a history of strong hostility to nuclear power, and over the last twenty years the Austrians have shut down all of the reactors in Austria
the standard product of labor is 6 flutes per day also the marginal product of labor is 8 flutes per day.
Now using the information on input prices also MR, Illustrate what is the optimal input combination.
Find out the expected number of points resulting from the one on one. Compare this with the expected number of points from a two shot foul, where the second shot i always given.
Typical economic decisions made by the managers of a firm .determine and explain which basic economic problem: of what, how, and for whom
Amend the diagram and use similar algebra to figure out Illustrate what happens again.
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