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Suppose a monopolist faces a market demand given by the inverse demand function p = 10-q; and a total cost C(q) = 2q.
1.) what is the monopolist's optimal price and quantity? What is the total social surplus?
2.) Suppose the government subsidizes the monopolist by paying him 2 for every unit that the monopolist produces and sells. What pirce would be offered in the market? What would be the total social surplus?
3.) Consider another policy where the government could impose a price ceiling p on the monopolist. If the government were interested in maximizing social surplus, what would be the optimal value of p when considered from the point of view of the government? What would be hte total social surplus?
What is the most important factor leading to rising health care costs in the United States since 1980? a)The increased use of expensive medical technology b)Teh aging U.S. Population
The graph below shows the aggregate production function of two nations, A and B. Suppose that in 1958 each nation had $100 of physical capital for each worker and in 2008 each nation had $400 of physical capital per worker. Figure: Nations A and B..
Explain how this tax or subsidy would achieve the socially efficient level of output. Among the various interested parties - the monopoly firm, the monopoly's consumers, and other taxpayers - who would support the policy and who would oppose it?
Explain why a customer who select a consumption bundle in which relative price exceeds the marginal rate of substitution can not be at an optimum.
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Social welfare functions embody a normative conception of the relative importance of equity and efficiency'. With the aid of diagrams, illustrate and explain this proposition.
Draw the AC function on the same graph. What is the firm's long-run supply curve? That is for every price p, how much will the firm produce in the long-run? Which curves are relevant now?
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Explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone-free milk and at the same time south african consumers choose to be more healthy
What subsidy is necessary to induce the monopolist to produce the socially optimal level of output?
What are the major reasons a multinational corporation would engage in Foreign Direct Investment (FDI)? Explain the factors in Michael Porter's "Five Forces Model" which affect the capability of any firm in an industry to earn the profit.
By conducting a demand analysis and forecast for pizza, you will be able to make a decision whether The Pizza Company should establish a presence in your community.
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