The table below depicts the revenue for the only restaurant in a small rural town. It costs the restaurant $6.50 to prepare each meal. Use the table to answer questions. Quantity Price Total Revenue Marginal Revenue Total Costs Marginal Costs Economic Profit/Loss 0 $8.00           1 $7.50           2 $7.00           3 $6.50           4 $6.00           5 $5.50           What is the profit maximizing level of output for the monopolist? What is the economic profit at this level of output? What is the total economic surplus? What price should the restaurant charge if it wants to maximize the total economic surplus? (i.e. What level of output would achieve allocative efficiency? At this level of output what is the economic profit for the restaurant? How many meals will the restaurant produce if it can engage in perfect price discrimination? How much economic profit will the restaurant earn if they are able to charge each customer the maximum price they are willing to pay

Q: Modified True or False: State whether each statement is true or false. If the statement is false,…

A: Answer to the question is as follows:

Q: 2. Diana and Jennie are stranded on a desert island. Each has in his possession some slices of ham…

A: since you have asked multiple questions and according to policy we can solve only 1 question and for…

Q: Let’s consider the AS/AD model. Furthermore, assume two events happen at the same time: government…

A: The AD-AS model establishes the economy's equilibrium GDP and price level.

Q: Complete the following table by indicating which bundles Susan strictly prefers to A given only the…

A: Indifference curve shows the combination of two goods that yield the same level of satisfaction to a…

Q: 42 – 5Q – Q² for a product 1. Consider the demand function P = called Q. Find the consumers' surplus…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: 7. True or False: The certainty equivalent of a risk averse person is smaller than the expected…

A: Q7. Risk Averse is a person or investor who opt for guaranteed options rather than options in which…

Q: Decisions for Tomorrow Suppose a person who is developing a card game crowdfunds $25,000 and holds…

A: Reserve ratio is 5% => Money multiplier =  (1 / reserve ratio) => Money multiplier = (1 / 5%)…

Q: Describe the three steps in a replacement captial budgeting project in great detail

A: Capital budgeting is known as determining which activities will have the most significant influence…

Q: Prove that in a 2 × 2 zero-sum game, if equilibrium strategies exist then one of the players has a…

A: The given case is a two-player zero-sum game. Zero-sum games are games where the profit of one…

Q: A steel firm creates water pollution for a downstream fishery. The price and cost functions for…

A: Given information Price of steel=30 Price of fish=50 Cost of steel=6s+3s2-20x+2x2 Cost of…

Q: An externality occurs in a market when Oa third party is impacted by a market activity Oexternal…

A: There are two types of externality: 1. Negative Externality  2. Positive Externality

Q: 7 A firm has this cost function: C = 4000 - 7Q + 8Q2. The firm is currently producing 5 units of its…

A: Cost Function = C = 4000 - 7Q + 8Q2  where Q = 5

Q: If the economy uses inputs efficiently, then (pls select all that applies) Group of answer choices…

A: The marginal rate of technical substitution is the rate at which the utility of one input is…

Q: Which policy measure is most likely to be effective in reducing a balance of trade deficit? Pick…

A: This situation is also referred as negative trade balance.

Q: Compared to a good with no externalities, a good with a negative externality will appear to have…

A: Externality:- An externality can be explained as an expense or benefit incurred or gained by a…

Q: Under the Britain wood system a country could alter it exchange rate

A: The Bretton Woods Agreement and System created a collective international currency exchange regime…

Q: John is planning to retire in 15 years. Money can be deposited at 8% compounded quarterly. What…

A: Semiannually Withdrawal = 25,940 Interest rate = 8% compound quarterly

Q: Define Gross domestic product (GDP)?

A: Gross Domestic Product is the sum of consumption spending, investment spending, government spending…

Q: Which of the following apply to stocks?  Select all that apply. Earn gains from dividends Earn…

A: Answer: Stocks do not pay interest instead they pay dividends. Thus investors earn from dividends.…

Q: rom March 2003 until October 2007 the S & P stock index, a broad measure of stock market prices,…

A: The interest rate impacts inflation by implication by means of homegrown interest for labour and…

Q: It was felt that liability insurance would undermine the tort system, which has as its central…

A: Liability insurance:- The word "liability insurance" denotes to such an insurance policy which…

Q: Referring to the data below,choose all the statements that are correct. Profit Compared With Price…

A: Indirect price discrimination Indirect Price discrimination refers to the prices for the commodities…

Q: Name (Print): Course: AS/AD Draw a macro equilibrium using AD/AS. Clearly label all important points…

A: Concept The AD-AS model, which includes AD or aggregate demand, short-run aggregate supply or SRAS…

Q: A) Ana decides every day how many hours to work and how much beef to consume. She spends all income…

A: Given information U=2t^0.5+Y W=1 t=24-h Y= consumption of beef Price of beef=4

Q: Firms invest a fixed amount of 200 per year. As they forecast that the economic conditions are going…

A: What Is the Economic Situation?   The current state of the economy in a particular country or region…

Q: The joint cost, in dollars, for two products is given by C(x, y) = xVy2 + 11. (Round your answers to…

A: Marginal cost is the cost of additional unit produced . To find the marginal cost we need to take…

Q: A competitive economy has many consumers, many producers, two goods (A and B) and two inputs (L and…

A: The equilibrium that depicts a condition where the producers that tend to maximize profit and…

Q: 1. Explain why, according to Keynes, the money wage would not adjust sufficiently to keep the…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first question for you. If…

Q: Google share price is $1759.73; Microsoft share price is $223.72; and Apple share price is 118.69.…

A: The P/E ratio is the price-to-earnings ratio.  It is the ratio that denotes the amount of price to…

Q: In 2007-2009, The US experienced a serious housing and financial crisis that took almost 10 years to…

A: A bank run happens when a significant number of depositors remove their funds from a bank at the…

Q: It describes a game of Chicken. 2 rebellious Teen drivers (Spike and Henry) face each other on a…

A: Game 1: Best Response of Henry:  Swerve  when spike don't swerve as payoff is more ( -15 >-50)…

Q: Use the table below to answer the following answers. Assume that MARR = 10%. The alternatives are…

A: Given;   X Y Initial cost -20000 -55000 Annual cost -13000 -8000 Salvage value 10000 7000…

Q: Q1. The government intends to increase future money supply by keeping current money supply constant.…

A: The money supply is the aggregate sum of money — money, coins, and balances in ledgers — available…

Q: You have been hired as a Marco Economist by the President of the United States to help evaluate the…

A: When Fed chairman increasing interest rate again on the ground that the economy is growing strong…

Q: what are the different concepts of national income

A: There are various concepts of National Income GDP GNP NNP NI PI DI and PCI

Q: Please answer ASAP and in short and. The should not be copied Global value chains(GVC) account for…

A: Introduction The cross-border connections that bring a service or product from concept to market are…

Q: What we can conclude on the journal Methodology of Islamic Economics From Islamic Teachings to…

A: Economics solely relies on knowledge obtained through human thinking and perception of the world…

Q: c. Instead, if Dell and Sony maximize their joint profits cooperatively for one year, what is the|…

A: Introduction Dell and Sony compete primarily by price. Both company will get more profit when they…

Q: In which of the following markets do you expect efficient outcomes? Explain your position. Your…

A: In a market, if the Marginal Cost and Marginal benefits are same this situation is reffered as…

Q: Firms A and B compete à la Cournot and sell at a price P = 12 - (qa + q8). If none of them invest in…

A:

Q: The weekly revenue realized by a company is approximated by the revenue function R(x, y) = 200x +…

A:

Q: Question 25 Macroeconomic factors used as inputs in multifactor models include: O Earnings growth. O…

A: When talking macroeconomic factors, it can be said that these are the economic variables, which…

Q: What goal of foreign policy is being achieved in the following example: US and UN troops oversaw…

A: Answer: In the given example US and UN oversaw the elections to ensure it was held in a fair manner.…

Q: To regulate natural monopolies, the governments can choose amongst the following options: Select all…

A: The answer is given below

Q: Which government policy measure would be most likely to reduce a current account deficit and…

A: A current account deficit occurs when a country's export is lower than a country's import.

Q: A monopoly can use one of two alternative technologies. One technology requires 10 units of capital…

A: Monopolies are businesses that have complete control of an industry or a specialised sector to the…

Q: QL TP W 10 30 1 10 10 40 19 27 10 50 10 10 60 70 4 34 40 10 80 Here is the production cost for a…

A: The graph shows that to hire more labor, the firm has to raise wage rate.

Q: Required information A process for producing the mosquito repellant Deet has an initial investment…

A: The following information is provided: Initial investment = $200,000 Annual cost = $41000 Annual…

Q: 74 Unit 11.2 Growing the Economy 1. Unit 11.2 Activity 1B: Physical and mental labour Discuss the…

A: Mental labor is that work in which the brain is applied for the execution of the work. Mental…

Q: sing MS Word, Google Docs or any other application of your choice, create a handout in which you…

A: Entrepreneurial competencies are the key qualities a person who is an entrepreneur required to…