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A: 1) A food industry is made up of 100 identical companies. Each firm has a short-run cost function…
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A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
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A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…
Q: 1. Suppose the government provides a subaidy to the monopoly. Ilustrate (0) conaumer surplus, ()…
A: “Since you have asked multiple questions, we will solve the first (first three sub-parts for)…
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- SPRING 四 pa 70° Question 5 of 50 Which of the following questionis: might be asked by an economist who is using critical thinking to solve a problem2 O How could Social Security and Medicare better use their resources to expand benefits? O Which principles of a command economy have the most negative effects on competition? O How might a hurricane in Florida affect the prices of crops grown in the state? O AIl of these choices are correct. Back NextQ4) What is price discrimination. What are its types and how it affects production and prices?4
- C. Explain how the following cause market failure:(i) under provision of merit goods(ii) monopoly. Diagrams should be included in your explanations.A large share of the world supply of cocoa beans comes from Ghana and Ivory Coast. Suppose that the marginal cost of producing cocoa beans is constant at GHC1000 per bag and the demand for cocoa beans is described by the following schedule. Price (GHC) Quantity (bags) 5000 6000 7000 8000 9000 10000 11000 12000 8000 7000 6000 5000 4000 3000 2000 1000 a) If there were many suppliers of cocoa beans, what would be the price and quantity? b) If there were only one supplier of cocoa, what would be the price and quantity? c) At a meeting in October 2017 in Accra, the leaders of the two leading producers of cocoa beans discussed the possibility of cooperating to boost the price of cocoa. If Ghana and Ivory Coast formed a cartel, what would be the price and quantity? If the countries split the market evenly, what would be Ghana's production and profit? f) What would happen to Ghana's profit if it increased its production by 1000 cocoa while Ivory Coast stuck to the cartel agreement? g) Use your…VALUES GIVEN ON GRAPH. PLEASE HELP ASAP, THANK YOU!
- (a) By how much do revenues increase if this firm sells one more (small) unit of output?By how much does its cost go up if it produces one more (small) unit of output? (b) What is the optimal price and quantity the monopolist should charge and sell? (c) What is the profit the monopolist makes? Should the firm shut down in the short or long run? (d) If the company increases its price by a small fraction (let us say 1%), by what proportion does demand go down?4. Is consumer surplus higher in a competitive market or a monopoly? What about producer surplus?What would happen to the following if there is anincrease in marginal cost? (a) The price that the monopolist can charge. (b) The quantity that the monopolist will produce. (c) The quantity that the perfectly competitive industry will produce. (d) The maximum profit of the perfectly competitive industry. .
- You are the manager of a monopolistically competitive firm. The demand curve of the firm is linear, and the marginal cost is a fixed constant. a. Graphically illustrate the profit-maximizing output and price set by the monopolistic firm. b. If the government set a tax of $t per unit sold, graphically illustrate how the output and price of the monopolist’s profit maximization will change? *Please show all work*Solve all this question......you will not solve all questions then I will give you down?? upvote....Please see the images of the article below and help answer questions. 1. Evaluate this statement: "Whereas a competitive firm must sell at the market price, a monopoly owns its market, so it can set its own prices. Since it has no competition, it produces at the quantity and price combination that maximizes its profits." Must a perfectly competitive firm sell at a market-clearing price? Alternatively, is the market-clearing price the profit-maximizing price that a competitive firm chooses to set? Can a monopolist set any (price, quantity) combination? 2. Evaluate this statement: "Monopolies drive progress because the promise of years or even decades of monopoly profits provides a powerful incentive to innovate. Then monopolies can keep innovating because profits enable them to make the long-term plans and finance the ambitious research projects that firms locked in competition can't dream of." Cite a counter-example to this claim in which deregulation of a monopolist led to lower…
