ErdemS (ES) is a monopoly selling tickets for the football match of SileSpor. The demand for each ticket is P = 350 - Q. ES’s cost is $10,000 plus $50 per ticket. (i.e., C(Q)=10.000+50Q ).

a) What is the profit-maximizing price that ES will charge? How many tickets will be sold? What is ES’s profit for this match?

b) Next ES finds out that non-students (Type A) and students (Type B) have different demands:   Let P_A = 650 - 5Q_A stand for the demand function of Type A; and let P_B =350-3Q_B stand for the demand function of Type B. Suppose that ES utilizes price discrimination and asks different prices to each type.

What is the price charged to a non-student (Type A)? What is the price charged to a student (Type B)? How many of each type are on this match? What would ES’s profit be for this match?

Can you please check my answers and if I am wrong correct me.

Thank you!

A. In today's interconnected world, many central banks communicate regularly and frequently with the public about the state of the economy, the economic outlook, and the likely future course of monetary policy. Communication about the likely future course of monetary policy is known as "forward guidance.". If the central bank increases the reserve ratio, as the market has perfectly expected, which of the following will surely happen?

1. The short run economic output will be deviating from its potential output

2. The prevailing price level of goods and services in that country will fall

3. The level of potential output will be shifting to the left

4. None of the following will happen for sure

B. What actually helps to determine the slope of short-term aggregate supply curve?

1. The rate at which the level of technology increases

2. The rate at which the country’s capital stock is depreciating

3. How responsive is the actual short run level of output to the deviation of actual price level of the economy from its expected price level

4. How sensitive is the economy towards changes of nominal interest rate

C.  During a recession the economy experiences:

1. rising employment and income.

2. rising employment and falling income.

3. rising income and falling employment.

4. falling employment and income.

D. Most economists believe that in the short run

1. real and nominal variables are determined independently and that money cannot move real GDP away from its long-run trend.

2. real and nominal variables are determined independently but that money can temporarily move real GDP away from its long-run trend.

3. real and nominal variables are highly intertwined but that money cannot move real GDP away from its long- run trend.

4. real and nominal variables are highly intertwined and that money can temporarily move real GDP away from its long-run trend.

E. The Central Bank of Wiknam increases the money supply at the same time the Parliament of Wiknam passes a new investment tax credit. Which of these policies shift aggregate demand to the right?

1. both the money supply increase and the investment tax credit

2. the money supply increase but not the investment tax credit

3. the investment tax credit but not the money supply increase

4. neither the investment tax credit nor the money supply increase

F. The long-run aggregate supply curve would shift right if the government were to

1. reduce the minimum-wage.

2. make unemployment benefits more generous.

3. raise taxes on investment spending.

4. All of the above are correct.

G. Sticky nominal wages can result in

1. lower profits for firms when the price level is lower than expected.

2. a decrease in real wages when the price level is lower than expected.

3. a short-run aggregate-supply curve that is vertical.

4. a long-run aggregate-supply curve that is upward-sloping.

H. In which case can we be sure aggregate demand shifts left overall?

1. people want to save more for retirement and the Fed increases the money supply.

2. people want to save more for retirement and the Fed decreases the money supply.

3. people want to save less for retirement and the Fed increases the money supply.

4. people want to save less for retirement and the Fed decreases the money supply.

I. In the context of the aggregate-demand curve, the interest-rate effect refers to the idea that, when the price level increases,

1. the real value of money decreases; in turn, the real value of the dollar increases in foreign exchange markets, which decreases net exports.

2. the real value of money decreases; in turn, interest rates increase, which decreases net exports.

3. households increase their holdings of money; in turn, interest rates decrease, which reduces spending on investment goods.

4. households increase their holdings of money; in turn, interest rates increase, which reduces spending on investment goods.

J. Since the end of World War II, the U.S. has almost always had rising prices and an upward trend in real GDP. To explain this

1. it is only necessary that long-run aggregate supply shifts right over time.

2. it is only necessary that aggregate demand shifts right over time.

3. both aggregate demand and long-run aggregate supply must be shifting right and aggregate demand must be shifting farther.

4. None of the above cases would produce rising prices and growing real GDP over time.

How do stock market crashes relate to market failure in the financial industry?

What did the Crusaders hope to achieve outside Europe? Within Europe? How successful were they in achieving these goals?

Compare and contrast monopolistically competitive firms with competitive firms. Be sure to explain what is similar in each industry and what is different. Make sure to address how many firms are in the industry, whether the product is homogenous or differentiated, conditions of entry and exit, and both short-run and long-run economic profit. (pls explain more as I'm only in intro to Micro, thx)

What are the key criticisms of the Gini coefficient?

In your opinion, what are the three most important macroeconomic issues of our society today?

Watch the TED Talk below and think about how the marriage practices in this film illustrate the various attributes of culture discussed last week. Specifically, write a brief 100-200 word reflection addressing the following: Are five husbands better than one? Kimber McKay at TEDxUMontana

• How is fraternal polyandry interconnected with other aspects of life, such as property and economics?

• How do the marriage practices in this region of Nepal illustrate that culture is dynamic?

1. Trace through the short-run, intermediate, and long-run effects of an increase in consumer wealth.  (Remember there are several AD determinants.  Be able to do this question for any of them—things like consumer optimism, consumer pessimism, decreases in wealth, decrease in household indebtedness, increase in household taxes, decreases in household taxes, increased excess capacity of capital, decreased excess capacity of capital, increases in the cost of maintaining capital, decreases in the cost of maintaining capital, increases in gov’t spending, decreases in gov’t spending, increases in income abroad, decreased value of currency, ETC).  No not use policy to offset the resulting business cycle. Include a graph and extended 4-step analysis.

1)start:

2)Shock:

3)Shift:

4)Result: Short Run

Intermediate

Long Run

Explain the relationship between Mexican workers and U.S. corporations and assess how this relationship contributes to the alienation and solidarity of U.S. and Mexican workers. 300 words

Explain in detail the past FOMC monetary policy decisions during the period 2000 to 2019?

The money multiplier was m1 = 1.01 in March of 2019. How effective were the Feds actions in 2019? Why? Explain.

1. A firm has the production function Q = 4LK. The marginal products are given by MPL = 4K and MPK = 4L. Suppose that w = r = 25. Write out the expression for the long run total cost curve. Does this firm experience economies or diseconomies of scale? Does this firm experience increasing, decreasing or constant returns to scale?

TC = 25Q^0.5 ; Economies of Scale; IRS