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Chapter 9 Supplemental Questions

Chapter 9 Supplemental Questions. Question 1. A. Calculate the total input cost and the marginal input cost. B. If the marginal value or marginal revenue products were 4, what would be the profit maximizing level of input?. MIC. 8. $/unit. 5. 3. 10 15

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Chapter 9 Supplemental Questions

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  1. Chapter 9 Supplemental Questions

  2. Question 1. A. Calculate the total input cost and the marginal input cost. B. If the marginal value or marginal revenue products were 4, what would be the profit maximizing level of input?

  3. MIC 8 $/unit 5 3 10 15 Quantity per unit of time Question 2. A. Find the equilibrium price and quantity for a monopsonist in the graph below. B. Find the equilibrium price and quantity under perfect competition in the graph below. C. What is the magnitude of monopsonistic exploitation? Supply of Input MVP or MRP

  4. MC $/unit ATC MR D Quantity per unit of time Question 3. On the following graph, show the effect of a lump-sum tax on a monopolist.

  5. Question 4. Using the graph below, answer questions a through d. A. What are the profit-maximizing price and quantity levels for the monopolist? B. Calculate profit. C. Suppose the government imposes a price ceiling of $40. Now what is the optimal price and quantity combination? D. Calculate the new level of profit.

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