a) What are the output and price where the firm’s profit is maximum? What is the firm’s economic profit? Show solution. b) Determine the deadweight loss for this market. What is the source of the deadweight loss in a monopoly? c) If government regulators where to ask the firm to charge a price and quantity that would be socially (or allocatively) efficient, what would these price and quantity be? At this output and price, what would happen to the consumer surplus, producer surplus and total surplus compared to the situation under monopoly.

Q: What is true of a firm's production if it operates in a perfectly competitive market in long-run…

A: In perfectly competitive market, firms produce identical goods which implies they do not have any…

Q: B) The information on price and quantity of three products consumed by a typical household in the…

A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…

Q: War Street Journal in 2021 observed, "And, while bitcoin is referred to as a digital currency. it…

A: Digital money is a type of cash that is accessible just in computerized or electronic structure. It…

Q: Your firm is currently paying $3,000 a year to a commercial garbage collection agency to haul waste…

A: Purchase price = $6,500 Labor to operate baler = $3,500/year Strapping material = $300/year Life of…

Q: Name and discuss the factors that shift the IS Curve. Give two examples, with the help of a diagram,…

A: The term "IS curve" refers to the graph that illustrates the various permutations of the level of…

Q: Firm 1 has £10,000 to invest. Firm 2 offers Firm 1 the following proposal: invest £10,000now and get…

A: A technique that is used to assess the current worth of all future cash flows produced by a project,…

Q: What happens to the supply curve for labor (shifts to the right/left or stays the same) in the…

A: Since you have posted a question with multiple sub parts, we will solve first three subparts for…

Q: A homogenous product is produced by n rival firms. They have the same costs. The market demand is: P…

A: P = 80-Q TCi = 50qi

Q: You would be more or less willing to buy a house because you expect Tesla's stock to double in value…

A: When talking about capital or stock market, it can be said that the preferences of individuals about…

Q: Suppose you have one type of customer who comes to see your team play and that customer has a demand…

A: Equilibrium level is achieved when marginal cost and marginal revenue are equal to eachother.  This…

Q: The reason why monetary policy is neutral in the long-run is: In the long-run, technological change…

A: Monetary policy refers to change in money supply.

Q: Suppose 2 players play the following game infinite times in the future. What should be the minimum…

A: We have common discount factor delta for both the players. The game has unique nash equilibrium…

Q: In a particular very small region, the consumer price index, C, depends on the current value of…

A:

Q: lesae explain briefing what policy and implementation lags affect the potency of fiscal policy, and…

A: How fiscal policy works The use of taxation and government spending to impact the economy is…

Q: Question 9 Which of the following is not true about Lindahl pricing? O a. There is unanimous…

A: As per the guidelines answer is provided to the first question i.e. Q9. Answer 9) "The Lindahl price…

Q: Austin is going on holiday with his infant daughter and has a first class air ticket. He values…

A: This question is based on the Coase theorem.

Q: Some people might think that de-development is about giving things up. How does Hickel explain that…

A: A developing country—also known as a less developed country or emerging market—has a less gross…

Q: explain the measures companies could take to overcome trade barriers

A: Trade barriers are the agreements or policies between two or more nations to limit imports and…

Q: The debt ceiling disputes that arise in the U.S. Congress over whether to raise the ceiling to allow…

A: The debt ceiling is the most extreme measure of cash that the United States can acquire aggregately…

Q: In which of the scenarios below would Fed decisions geared towards eliminating GDP gaps lead to a…

A: Introduction :  inflation is a general increase in the prices of goods and services in an economy.

Q: 18. Troy's Tire Mart has a replacement value of $965, 000 and is insured for $588, 000, with an 80%…

A: Post-normal can be a way to restoring a third-world country's economy. A loss is defined as an…

Q: Consider the Scenario given below and attempt the questions that follow: COVID-19 Lockdown Price…

A: Changes in the external environment surrounding the retail industry have shifted conventional wisdom…

Q: Distinguish Nominal GDP and Real GNP with example?

A: Economists use real GDP rather than nominal GDP to measure economic health because real GDP is…

Q: It asks for modified B/C ratio.

A: The formula for calculating an annual payout, A=Pi1+in1+in-1 Here, P is the present value, n…

Q: QUESTION 20 In a perfect competitive market, companies will make zero profits in the long run…

A: Perfect competition describes a market arrangement in which major vendors of a good all provide the…

Q: 3. Below is the table representing the cost of production and demand schedule for Roxxy's Wigs.…

A: Answer: Given, (a). A short run is a time period where there are two types of input i.e. fixed and…

Q: Which institutional design would you say is more suitable for economic growth: a majoritarian or a…

A: A democratic administration is superior to a dictatorship because it is more responsible.

Q: If output is $7500, the level of capital is 600, capital's share of total income is 0.6, and the…

A: The central idea of neoclassical distribution theory is that money is earned through the production…

Q: 1. An individual has a utility function, U(q,,92) = V91 92). (Mathematical assistance: Vx = x2…

A: We have utility function u=(q1q2)1/2 And prices p1, p2 for q1 and q2 respectively.

Q: Suppose if the inflation rate of a country increases sharply. What happens to the inflation tax on…

A: Inflation rate in any Economy is what explains the general rise in price level and thus alters the…

Q: What are marketing, operations, finance, and human resource of Alibaba Group: The Rise of a Platform…

A: Alibaba, which was launched in 1999 to help small Chinese firms with export transactions, has…

Q: however, option e mentions upward sloping straight line, did you simply mean upward sloping curve or…

A: The preferences of Goluki are determined by U(q1, q2) = q11/3 + q21/3   Where,  q1 is the number of…

Q: Our very existence makes environmental problems inevitable. Environmental problems are not new.…

A: Externality is the negative or positive spillover by the consumer or producer which affects the…

Q: what is the relationship between money demand and GDP in developing countries

A: Compared to industrialized nations, developing countries have a gross domestic product (GDP) that is…

Q: Suppose that initially Px = 2, Py = 8, 1 = 96 and the Marshallian demand function for %3D 0.51 0.5Px…

A: Note: You have uploaded more than one question at a time. Hence, we shall answer only the first one…

Q: In long-run equilibrium, the marginal social cost exceeds the marginal private cost, but the…

A: Oligopoly is a market with few large firms selling homogeneous or differentiated goods

Q: A firm produces a product made of a rare stone but has shipping costs. For simplicity, ignore all…

A: Locational cost examination is a strategy for deciding the volume of creation where an organization…

Q: A competitive firm maximizes profit when marginal cost: a. equals the price. b. is less than the…

A: There are many firms offering the same identical products in a market system with perfect…

Q: What is capital and labour intensive production technique

A: Production technique refers to the process through which the goods and services are produced by the…

Q: A. Consider a fırm who sells output at p=10 and has a short run production function Q(L)=20L-L². It…

A: A firm sells in a perfectly competitive market and is a price taker in the input market hires labor…

Q: A homogenous product is produced by two rival firms. The firms have the same costs. The demand faced…

A: Given information Demand functionQ1 =40-P1+0.5P2 Q2=40-P2+0.5P1 TC1=50Q1 TC2=50Q2

Q: ext time you are shopping at the supermarket (or imagine you are there), what is a good example of a…

A: markets are the place where buyers and sellers interact and exchange the goods and services .  there…

Q: There are several factors that influence money demand. Explain the effects of the following…

A: The desire to retain financial assets in the form of money, such as cash or bank deposits, rather…

Q: Food has successfully paved its way as the favourite luxury in every family, emerging as an ample…

A: CAGR, is the mean annual growth pace of an investment throughout a predetermined timeframe longer…

Q: A conclusion of the asymmetric information tennis racquet eBay transaction case study developed in…

A: Asymmetric information refers to when one of the individuals in a transaction has more information…

Q: The economy of HOYA has a spending mulipilier of 4. Based only on this information, we know that in…

A: The multiplier refers to how much change in the injection in any economy increases the level of…

Q: x= chronological order of the second letter in your first name y = is the last digit of your student…

A: Given information Demand rate function X2+3*P*X+P2=79 P=5

Q: Use the graph to answer the question Between points C and D, the long-run average total cost curve…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: A. A rise in the price of coffee from S 1.5 to $2.8 results in a rise in the quantity of tea…

A: Elasticity measures the responsiveness of quantity demanded to change in prices.

Monopoly Market

When a company and its products dominate a sector or an industry, it is termed a monopoly. When a firm and its products control a market, then it is called a monopoly.