1. Perfectly competitive market. An individual firm has the following cost function:

TC = 36 + 2q +q2.  

1. Find the firm’s supply curve.

2. If there are 100 identical firms in the market, what is the market supply curve?

3. In the long run, how many units would each firm produce? What is the price in the long run?

4. What is each firm’s profit? Show this.

5. If the market demand= Qd = 614 - p, how many firms would be in the market?

To what degree do you think that the U.S. economy “works" for the people of this nation? Provide specific facts from the chapter in support of your assessment.

Consider a monopolist with a total cost of TC=9+Q and marginal cost of $1 (MC=1). The monopolist faces a demand curve of P=11-Q.

1. Graph the monopolist

2. Find price and quantity that the monopolist charges.

3. Find the profit and consumer surplus.

4. Find the deadweight loss to welfare.

Please keep each answer to 400 words or fewer. Aim to be over 300 for each.

Footnote as necessary, I will grade primarily on relative mastery of the material and on critical thinking and analysis, but yes, quality of writing and grammar matter.

Make sure to think! The obvious is easy enough given that this is a take-home, so fire some brain neurons, please.

QUESTION:

What would MacKay or Keynes — pick only one, please — argue about the recent virus-induced shock to the economy? Ground your answers in the relevant excerpts by these authors?

Which concept would you use to explain why investment spending did not grow strongly between 2011 and 2014 although interest rates were very low? Think about what drives investment spending and use a certain principle we covered in the chapter titled [Income and Expenditure] ( Around150 words)

On Wal-Mart and Health Care Policy case, what are the issues, interests, informations, alternative strategy and recommendations.

Question 7) Why are the Chinese skeptical about democracy?

Business la chapter 48

1. Was this a horizontal merger, a vertical merger, or a conglomerate merger?

2. How is the market defined, in terms of both product or service and geographic area?

1. Briefly discuss a strategy a firm operating in a perfectly competitive market must take to sustain its profit outlook.                                                                                           
2. A firm operating in a competitive market has the following cost function C = 10 + 2Q². The market demand is Q = 40 – 2P and equilibrium price of output is $20.

1. Calculate the output the firm must produce to maximize its profits.                        
2. Find the price the firm must charge to maximize profits.                            

Desired consumption is C^d = 20 + 0.5Y – 0.1r and desired investment is I^d = 30 – 1.5r. G is 15 and Y is 100. Real money demand is M^d/P = 5 + Y – 0.3i. Provide economic reasons to interpret:

         (a) the consumption function with respect to its components.

2. the investment function with respect to its components.

How does the concept of “opportunity cost” and the idea of “tradeoffs” relate to decision-making?

Why does the term “opportunity cost of capital” mean?

What is “deciding on the margin”?

What is the difference between “positive economic analysis” and “normative economic analysis”?