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A monopolist has an inverse demand curve given by p(y) = 12 - y and a cost curve given by c(y) = y2.
(a) What will be its profit maximizing level of output?
(b) Suppose the government decides to put a tax on this monopolist so that each unit it sells has to pay the government $2. What will be its output under this form of taxation?
(c) Suppose now that the government decides to put a lump sum tax of $10 on the profits of this monopolist. What will be its output?
A bank has a net income (after taxes) of $3.5 million; assets of $150 million; and bank capital of $12.5 million. What is the bank’s (i) return on equity; (ii) return on assets; and (iii) debt-to-equity ratio? Show your work.
Explain why would the increase in GDP be greater than the increase of a $100 increase in government spending.
Does this firm’s production function exhibit diminishing returns to labor employment? Are labor and capital complements for this firm? Explain. What is the real wage rate paid by this firm? If total factor productivity (A) is 20, how much labor (L) w..
Suppose price of widgets is $10. How many widgets does each firm produce. How much profit does each firm earn. Is industry in long-run equilibrium? How do you know.
Explain and illustrate graphically the effect of the following on the monetary base and the level of reserves. The Fed lends the Bank of America additional $20 million but depositors withdraw $5million. Central bank purchases $30 million of governmen..
What made up the colonial money supply? Was there a serious shortage of money in the colonies?
A stranger approaches you in the hospital parking lot and identifies himself as a lawyer who would like to help people and he would like to give you some of his business cards to hand out to patients who are not happy with their medical treatment; he..
A construction manager just starting in private practice needs a van to carry crew and equipment. She can lease a used van for $3,738 per year, paid at the beginning of each year, in which case maintenance is provide. Alternatively, she can buy a use..
Starting with the situation in part d, suppose the government starts taxing the population $30 each year without spending anything.
The Commerce Department revised its estimate of real GDP to $3.877 trillion, up from the earlier estimate of $3.835 trillion. Before adjusting for inflation, GDP was $4.603 trillion, up from $4.523 trillion.
?Zeta is an American multinational retail corporation. To move ahead of its competitors and increase revenue, Zeta began to employ a system to determine which products to stock and at what prices, and how to advertise to draw target customers. The pr..
Explain how a monopolist chooses its profit-maximizing price and quantity. The paper should then discuss how the monopolist’s profit-maximizing decision affects price, quantity traded, consumer surplus and producer surplus, compared to a competitive ..
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