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1.Suppose the monopolist faces the market demand function given by2144PQ.The AVCof the firm is given as AVC = Q½andthe firm has a fixed cost of $ 5a)determine equilibrium P&Qb)determine the maximumprofit
2.Given Qd = 60–15P + P², the (point) price elasticity of demand at a price of 5
3Primary and secondary schooling is free in state schools in our country. If parents aregiven a choice of schools fortheir children, there will be a shortage of places in popularschools. What methods could be used for dealing with this shortage? What are theirrelative merits?
please I need your help
1.Suppose Ethiopian Electric Light and Power Corporation (EELPC) is a multi plantmonopolist having two plants, Tekeze plant (plant1) and Fincha plant (Plant2). Theoperating costs of the two plants are given as follows:Tekeze Plant: TC1 = 10 Q12and where Q1-Amount of electric power produced inTekezeFincha plant: TC2 = 20 Q22Q2–amount of electric power produced in FinchaEELPC estimates the demand for electric power by the following functionP= 700–5Q where P-is price (total in million birr) per Giga watt andQ–is the total amount of Giga watt sold and Q = Q1 + Q2Note that a Giga watt of electric power, whether it comes from Fincha or Tekeze plant worthequal price
a) What level of output (electric power) should EELPC produce and what price per Kilowattshould it charge to maximize its profit?
b) How much of the total output should be produced in each plant?
c) Suppose that recently the Tekeze plant is suffering from siltation problem
.Suppose Ethiopian Electric Light and Power Corporation (EELPC) is a multi plantmonopolist having two plants, Tekeze plant (plant1) and Fincha plant (Plant2). Theoperating costs of the two plants are given as follows:Tekeze Plant: TC1 = 10 Q12and where Q1-Amount of electric power produced inTekezeFincha plant: TC2 = 20 Q22Q2–amount of electric power produced in FinchaEELPC estimates the demand for electric power by the following functionP= 700–5Q where P-is price (total in million birr) per Giga watt andQ–is the total amount of Giga watt sold and Q = Q1 + Q2
Find the Error The following pseudocode algorithm has an error. The program is supposed to ask the user for the length and width of a rectangular room, and then display the room's area. The program must multiply the width by the length in order to determine the area. Find the error. area = width times length. Display "What is the room's width?". Input width. Display "What is the room's length?". Input length. Display area.
2.The price of food increased during the past year.
a.Explain why the law of demand applies to food just as it does to all other goods and services.
Imagine that you have a choice between consuming good x or y, and that the price of x increases. Since good x is now more expensive, we know that your purchasing power will decrease. We also know that the substitution effect will see you shift consumption out of good x and into good y. Is it possible that the income effect has you consuming more of both good x and y as a result of this price change? Why or why not?
Justify why stage/phase two of production is regarded as rational stage
Given the information in the case study, calculate thecross price elasticity of demand between personal cars and ride sharing services in the UAE.
Name and describe any two (2)tax methods used by government to regulate unfair monopoly practices
Use a diagram to explain the impact of the imposition of a minimum wage above the equilibrium wage in a perfectly competitive labour market.
