Draw a demand, marginal revenue and marginal cost curve for a monopoly firm. Be sure to label axes and curves. a. Identify efficient and equilibrium quantity exchanged. b. Identify monopoly price. c. Explain why I am not asking for a supply curve.
4. Draw a demand, marginal revenue and marginal cost curve for a
b. Identify monopoly
c. Explain why I am not asking for a supply curve.
5. Explain what is the relationship between marginal
a. Economies of scale.
b. Constant returns to scale.
c. Diseconomies of scale.
6. Assume that the economy is facing the zero lower bound.
a. Explain how the Federal Reserve might engage in expansionary
b. Explain how expansionary fiscal policy might influence the economy when facing the zero lower bound.
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