Kate's Great Crete (KGC) is a local monopolist of ready-mix concrete. Its annual demand function is Q = 20,000 - 400P, where P is the price, in dollars, of a cubic yard of concrete and Q is the number of cubic yards sold per year. What is KGC's marginal revenue function?

The total value of inputs used in the production of 100,000 units of a good manufactured in a country is $150,000. Assume that the country produces only this good and each unit of the good sells for $10

What is the gross domestic product of the country? A) $1,000,000 B) $250,000 C) $150,000 D) $1,150,000

Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than the 1000 (type B) people. Type A Demand QD = 100 ? P Type B Demand QD = 50 ? P Where Q measures the quality of flood control. If the price of a unit of flood control is $100000 and the citizens of Toadhop gather for a townhall meeting to

find the socially optimal level of flood control, and they are successful, how much will each type A individual contribute in total? a. 1875 b. 1500 c. 875 d. 625