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Q: #7
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- Suppose Bedox is a patent drug for man’s beauty. Her manufacturer faces a market demand for Bedox of Q = 1,000 – 0.2P. She has a cost function of C = 300,000 – 1,000Q + 10Q^2.Suppose the government considers this “unfair to consumers” by allowing Bedox to charge such a high price. As such, the government has decided to impose a lump-sum tax of $200,000 on Bedox. Explain whether this policy can help alleviate the “unfairness to consumers”.Suppose the government wants to regulate Vought International by setting a price ceiling, but Vought International has a strong lobbying arm and so they negotiate a price ceiling ̄p= 2MC (the price ceiling is double the marginal cost). What is this price ceiling and the corresponding deadweight loss?A pharmaceutical company Eureka Bio has discovered a Corona vaccine that can be produced at constant marginal cost of R10. The company has entered into offtake dosage agreements with country A and B. Country A has a dosage demand of QA = 200 - PA and Country B has dosage demand QB = 160 -PB a. If WHO introduces a regulation on the price of dosages, calculate the price, profits and dosages that Eureka can charge.
- Firm A: quantity=335000=firm B P(A)=P(B)=$2567, maximum price=$4000 firm C Q(C)=6,495,000, maximum price=$4000, P(J)=$3199 how can I calculate the consumer surplus of these firmsIt a monopoly firm is now choosing a production level and the corresponding price where P-MC, then we may conclude that this firm is not profit maximuing. Tru or False. ExplainThe Spacing Guild has a monopoly on space transport. They sell tickets(Q) for seats on starships for interstellar travel at a per-ticket price of P. Alltickets cost the same.The Marginal Cost for each seat is $20 and there are no other costs.Market demand is Q=430-3P. What is the difference between the Guild's QUANTITY and the quantitythat would result if interstellar travel was a perfectly competitive market?
- The USPS charged $0.50 per stamp in 2021 and allows stamps.com to sell a sheet of twenty $0.50 stamps with personalized photos for $1.20 per stamp. Stamps.com keeps the extra beyond the $0.50 it pays the USPS. If stamps.com is acting as a profit-maximizing monopolist, what is their Lerner Index, and what is the price elasticity of demand for a customized stamp?Price Quantity demanded Quantity supplied $300 60 30 $400 55 40 $500 50 50 $600 45 60 $700 40 70 $800 35 80 Use the information provided in Table to plot the price ceiling of $400 onskateboards.a) Why does TRUVADA cost $1,780 in the United States whereas it's just $8 in Australia?b) Can you provide other examples of price discrimination?
- Price = $1000Quantity = Hundreds per monthOld equilibrium is 7, with a quantity of 5.New equilibrium is 9, with a quantity of 7. Total revenue is 3.5m(old) to 6.3m(new)How would I go about calculating the area for each producer surplus?Bill’s Bicycle is the monopoly seller of bicycles in the city where it operates.The demand function of bicycles is Q = 200 - 10P. The company’s total cost func-tion is C = 10 + 10Q. Assume the company charges a single, uniform price forevery bicycle it sells. a. Calculate the profit-maximizing quantity and price for Bill’s BicycleCompany.b. The government decides to impose a specific tax on bicycles in thiscity. The amount is τ=2 per bicycle sold and is collected from the seller. Drawa diagram that show the deadweight loss before the imposition of the tax andthe deadweight loss after the imposition of the tax.(You do not need to shownumerical values in the diagram as long as all the areas are labelled correctly).In a monopoly type market; the current price is $100.00, the quantity is 10,000, the tax on economic profits 4% of economic profits, the price elasticity of demand (constant) is -2.5, and MC is $60. What is the price with tax for a monopoly market?
