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Calculate Economic profit:
Suppose a monopolistically competitive firm is facing the following demand and cost information.
a. If the firm is a profit maximizer, how many units of output should the firm produce? How did you find this number? Explain.
b. What price should the firm charge? Why? Explain.
c. What is the amount of economic profit (or economic loss) earned (or incurred) by the firm?
d. What do you predict will happen in the long-run? Why? 2. Your friend Mike owns a coffee shop in a town with many competing coffee shops in a monopolistically competitive industry. One day Mike tells you (a trained economist) that he is earning an economic profit and is currently setting his price equal to his marginal cost. Is Mike producing the profit-maximizing amount of coffee? If not, what should he do? Explain. What will be effect of that proposed course of action? 3. Your friend Alberta is the owner of a boutique clothing store in a monopolistically competitive clothing market, so Alberta's store has some degree of market power. Assume further that the market is in long-run equilibrium. Over coffee, Alberta tells you that she is considering raising the price of her clothing to increase her profits. What is your advice?
1. Kinetics is considering a project that has a NINV of $874,000 and generates net cash flows of $170,000 per year for 12 years. What is the NPV of this project if Kinetics' cost o
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Non-for-Profit Organization/Tax-Exempt Organization - An incorporated organization that exists for charitable or educational purposes, and from that its shareholders or trustees do
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