MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
Question
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Chapter 11, Problem 2QAP

(a)

To determine

Determine whether the given statement is correct.

(b)

To determine

Identify if the given statement is necessary for an economy.

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4) A new vaccine against deadly disease has just been discovered. Presently, 55 people die from the disease each year. The new vaccine will save lives, but it is not completely safe. Some recipients of the shots will die from adverse reactions. The projected effects of the inoculation are given in the accompanying table: % of population Total deaths Total deaths Marginal benefit of Marginal cost of inoculation inoculated due to disease due to inoculation inoculation 55 10 45 20 36 30 28 3 40 21 6. 50 15 10 60 10 15 70 20 80 3 25 90 30 100 35 Calculate MB and MC of inoculation. What proportion of the population should optimally be inoculated?
plz solve this question in 30-40 min, I will definitely give you multiple upvotes
A monopolist is faced with the following cost and revenue curves:(picture) a.What is the maximum-profit price and output,total revenue, total cost and profit? b.If the monopolist were ordered to produce 300 units, what would be the market price and how much profit would now be made c.If the monopolist were faced with the same demand, but average costs were constant at £60 per unit, what output would maximise profit? What would be the price now?................................................................................................. (j)     How much profit would now be made? ...................................................................................   (k)    Assume now that the monopolist decides not to maximise profits, but instead sets a price of £40. How much will now be sold? ..................................................................................................................................................   (l)     What is the marginal revenue at this…
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