Questions 2. Assume a monopolist faces a market demand curve P = 100 – 2Q‚ and has the short-run total cost function C = 640 + 20Q. What is the profit-maximizing level of output? What are profits? Graph the marginal revenue‚ marginal cost‚ and demand curves‚ and show the area that represents deadweight loss on the graph. 3. In question 2‚ what would price and output be if the firm priced at socially efficient (competitive) levels? What is the magnitude of the deadweight loss caused by monopoly
Premium Sociology Education Learning
ECO 5305 Final Exam Answers underlined in yellow 1. Fixed costs include: a. variable labor expenses. b. output-related energy costs. c. output-related raw material costs. d. variable interest costs for borrowed capital. 2. Marginal cost equals: a. average variable cost at its maximum point. b. the change in total fixed cost divided by the change in quantity. c. the change in total variable cost divided by the change in quantity. d. total cost divided by quantity
Premium Costs Marginal cost Variable cost
stabilize the economy; to protect businesses‚ consumers‚ investors‚ and competition; to conserve the environment; to regulate working conditions; and to protect business property. Both state and federal laws govern mergers and acquisitions. State laws set the procedures for the approval of mergers and establish judicial oversight for the terms of mergers to ensure shareholders of the targeted company receive
Premium Mergers and acquisitions Stock market Stock
Note Book Chapter 1 Getting Started 1.1 DEFINITION AND QUESTIONS 1. Scarcity is the condition that arises because wants exceeds the ability of resources to satisfy them. 2. Scarcity is the condition that arises because wants exceed the ability of resources to satisfy them. Scarcity is not eliminated when people become rich‚ movie goers are able to see the next The Social Networ installment‚ or people gain employment because of the movie’s release. In all cases‚ people will have wants that
Premium Economics
treasury)‚ & Robert Morris supported dollar as American Monetary Unit This established the decimal system we use today with money – which is much easier than the British system‚ which was eventually decimalized in 1971. Coinage Act of 1792 - Set our monetary system based upon gold & silver – “Bimetallic System” for almost 75 years Designated both gold and silver as the monetary standard for the U.S. = Bimetallic Standard and lasted for almost 75 years Silver coins contained more metal than
Premium Money Central bank Federal Reserve System
of the rods will have length of more than 122.5 mm? If 10% of rods were to be rejected for being too short‚ what is the minimum length of the rods that will accept? What is the assumption you have made in your calculation? (20 marks) END (c) Set 1 Page 1
Premium Mathematics Random variable Statistics
that the price of good A is $4‚ the price of good B is $2 and the consumer’s income is $60. Which of the following baskets is not on the consumer’s budget line? Response: A = 20‚ B = 5 * Edit Question 9 The budget line Response: represents the set of all
Premium Consumer theory Analytic geometry
Traveling Mindset vs. Home Mindset Does having a closed mind set benefit more than a open mind set? Being open minded is having a mind embarks on new ideas‚ exploring and arguments. Being close minded is not open to new ideas and exploring. What does open minded and close minded have to do with having a traveling mind set and home mind set? Having a traveling mind set‚ we carry with us no rigid ideas about what is interesting. A home mind set is being settled in expectations‚ and assured that we have
Premium
Dystopian Text Set Introduction After reading The Giver and The Hunger Games‚ we were set out on the task to find a common theme. In an ideal situation‚ teachers would be able to embellish on these young adult books by supporting them with supplemental sources. Through the use of newspaper articles‚ magazines‚ picture books‚ videos‚ trailers and clips‚ and electronics our tenth grade English class will explore and discover the theme; dystopia paired with defiance. Dystopia
Premium Dystopia DDT Utopia
Cyclone devastates Australia’s banana crop- Practice IA Introduction to theory: Demand and supply are basic economic theories that can help the government and producers make informed decisions like how much to produce‚ and the price they set for products. Connection to article: The recent Cyclone Larry has affected crops in Australia‚ decreasing their supply of bananas drastically‚ as well as causing a decrease in the employment of workers in the banana industry. Analysis: Demand is the curve that
Premium Supply and demand