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1. "Price discrimination allows a monopoly to increase its economic profit by capturing part of the consumer surplus and turning it into economic profit. Such a situation however leads to a deadweight loss to the society as a whole in the long run." Is the previous statement correct or incorrect? If the statement is correct, why is it important in understanding firms' behaviors?
2. Explain the three arguments used to promote trade barriers and two instruments to impose these trade restrictions in a country.
1. Seller has ample time to adjust to price change. 2. Buyer's response to small price change is significant. 3. Buyers are faced with many options when deciding to make a
Comparison with Our Needs: We can further test our performance by juxtaposing it with our requirements. Admittedly, it is very difficult to determine 'needed' rate of growth w
Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capit
Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product T
The East Asian Miracle However the set of extraordinarily successful economies isn't limited to the set of original OECD economies. Economies of the East Asian miracle have ove
Q. Explain Fixed Capital and Flat-Rate Tax? Fixed Capital: Realcapital which is installed permanently in a specific location, including infrastructure, buildings and major eq
williomson''s model of managerial discretion
Change in consumer and producer surplus from price controls * Observations: - The loss is equal to area B + C. - The change in surplus = (A - B) + (-A - C) = -B - C -
A 5-years Rs.100 debenture of a firm can be sold for a net price of Rs. 96.50. The coupon rate of interest is 14 per cent per annum, and the debenture will be redeemed at 5 per cen
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