Consider a monopolist facing a linear (inverse) demand curve given by:
p = a - bQ
Show with calculus that the marginal revenue in fact has the same price-axis intercept but twice the slope as the inverse demand curve above.
Total Revenue = (a - bQ)Q. MR = dTR/dQ = a - 2bQ.
Economics
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Refer to the scenario above. If the economy is currently on F2 and produces Y3 level of output, a leftward shift of the labor demand curve with no change in productivity will cause output to ________
A) increase from Y3 to Y4 B) decline from Y3 to Y1 C) decline from Y3 to Y2 D) increase from Y3 to Y5
Economics
If there are 10,000 people in your age bracket, and 10 of them died last year, an insurance company believes that the probability of someone in that age bracket dying this year would be
A) 0. B) .001. C) .0001. D) 1,000.
Economics