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SUPPOSE A MONOPOLIST FACES A DEMAND CURVE OF D(P)=10-P AND HAS A FIXED SUPPLY OF 7 UNITS OF OUTPUT TO SELL.WHAT IS THE PROFIT MAXIMIMISING PRICE AND WHAT ARE ITS MAXIMUM PROFITS
an emission fee levied against polluting firms will tend to shift the supply/demand curve of the firm/product to the left/right?
Division of Labor The occupation or breaking down of jobs into simple and repetitive responsibilities.
The Market Mechanism Features of the equilibrium or market clearing price: – QD = QS – No shortage or scarcity – No extra supply price. – No pressure on th
Consider two individuals M and F who must split 20 units of good X and 10 units of good Y. Suppose we can represent M's preference with the utility function Um =X ^2 mYm and Fs
give assumption, rules/formulas and demonstrate that ramsey prices are the seconnd best pricing. explain clearly.
how does economics bridge the gap between economic teory and practise
what are the weaknes of consumer behaviour
#question.explain three neccessary condition to achieve pareto efficiency.
(Cost minimization) a) What are the expressions for the marginal product of every of the two inputs in producing credit hours? b) What is the expression for the marginal r
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