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A monopoly produces widgets at a marginal cost of $10 per unit and zero fixed costs. It faces an inverse demand function given by P = 50 - Q. Which of the following is the marginal revenue function
How much should the firm produce in order to maximize profit? What is the maximum profit that the firm can generate at the output level(your answer in a)?
Suppose a firm is operating under a competitive market conditions and the going price for its product is $260. If the firm's short run Total Variable Cost (TVC) function is
For what types of decisions do you use the Economic Decision Rule? Which types of decisions do you not use the Economic Decision Rule? What are the implications for economic analysis if most people
Using a 10 percent significance level test for the statistical significance of the parameters obtained in a, then discuss the suitability (considering their algebraic signs) of the parameter estima
Select a U.S. multinational company. In terms of currency denomination, discuss how the firm prices its revenues and costs. For MNE's with multiple foreign operations, consider any one of those oper
One of the basic economic laws is ‘the law of one price.' It says that given certain assumptions one would expect that if the free trade is allowed, the price of goods in countries should con
Please explain the impact on the economy of Government spending on Health care on interest rates, investments, employment and income in the economy. Please follow the sequence in the question. Show
Discuss briefly the role each of the following plays in the debate between the active and passive approaches:
What is meant by the terms ‘policy agreement' and ‘policy conflict'? What do countries need to do when they find themselves in a policy-conflict zone?
The most important determinant of a household's consumption spending is
Illustrate the effect of this tax on equilibrium price and quantity in the sock market. Identify the following areas both before and after the imposition of the tax: total spending by consumers, to
How will each of the following changes in the mind and/or supply effect qualities prices and equilibrium quantity in a cooperative market that is , do price and quantity rise, falls or remain unchan
The President and Congress change the budget accordingly, but after 18 months, GDP only increased by three quarters of the expected amount. What factors might be responsible for this situation?
If the Fed leaves the money supply unchanged, what will happen to the interest rate over time? If the Fed changes the money supply to match the change in money demand, what will happen to the interest
Give me a hypothetic supply and demand table. Graph your data showing equilibrium price and quantity. Shift a curve or two and show me the new equilibriums.
State how each of the following would affect the average wage of college professors relative to other professionals in the long run. In each case, illustrate with a supply and demand model
Plot the five points on the total product curve where the variable input is classroom teachers and the output is enrollment. Find the point at which the total product is maximum.
How will this trade affect the incomes of capital owners and workers in the wool industry in Australia? Apply your knowledge of an appropriate framework to illustrate this.
In the monopolistic competition model of trade, countries trade because they like to consume all the available varieties. Suppose you can collect country level trade flows and GDP data. How can you
Draw the demand, marginal reveue and marginal cost curves for each market. Estimate the profit maximizing prices and quantities graphically and/or determining the solutions algebraically. What are t
What would the neoclassical economists and the new dissidents have to say about the former Bush Administration's efforts to push forth a Free Trade of the Americas with our South American, Central
Since the September 11th attack there has been an increase in the demand for security personnel-police, air marshals, airport security, etc. How do you think the higher demand has affected the equil
The idea is to improve the love life of these citizens and enhance their quality of life. Present an economic reasoning why this action, despite is unusual nature and comic undertone, might be benef
Suppose that a firm's only variable input is labor. when 50 workers are used, the average product of lavor is 50, and the marginal product of the 50th worker is 75. the wage rate is $80, and the to