Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Macroeconomics Expert

Problem:

Assume that in city there’re 100 indistinguishable self-service gasoline stations selling the similar kind of gasoline.

The total daily market demand function for the gasoline in market is the QD = 60,000 - 25,000P, where P is stated in dollars per gallon.
The daily market supply curve is the QS = 25,000 P for P $0.60.

Required:

1. How many number of gasoline stations would monopolist operate?

2. Can we say that the monopoly directs to a not as much of efficient employ of resources than perfect competition?  What is the amount of deadweight loss, if any?

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M910581

Have any Question? 


Related Questions in Macroeconomics

Complete parts a and b completelypart a suppose nominal gdp

Complete Parts A and B completely (Part A) Suppose nominal GDP in 2012 was $200 billion, and in 2014, it was $210 billion. The general price index in 2012 was 100 and in 2014 it was 105. Between 2012 and 2014, the real G ...

Question 1 repeated cournotconsider a repeated version of

Question 1) Repeated Cournot Consider a repeated version of the Cournot model discussed in class, with two firms i =1, 2, demand function P (Q) = (A - Q) + , marginal production costs c i > 0 (satisfying c 1 , c 2 a) Fin ...

An accident has occurred causing 10000 in harm to the

An accident has occurred, causing $10,000 in harm to the victim.  The amount of harm done is undisputed and easy to prove; punitive damages are not applicable, so any damage award would be for exactly $10,000. This type ...

A describe five 5 ecosystem goods and services of the

a.) Describe five (5) ecosystem goods and services of the Neponset River Watershed. b.) Assign dollar ($) values to these 5 ecosystem goods and services of the Neponset River Watershed. Please be clear about how you asse ...

Do you agree or disagree with one of the following

Do you agree or disagree with one of the following statements (just need to pick one)? Find an article that supports your claim. Summarize the article and write a short paragraph explaining your opinion. There is no righ ...

Suppose the economy is in long-run equilibrium with real

Suppose the economy is in long-run equilibrium, with real GDP at $16 trillion and the unemployment rate at 5%. Now assume that the central bank unexpectedly decreases the money supply by 6%. Illustrate the short run effe ...

1 which countries consume the most dung and how do the

1. Which countries consume the most dung and how do the energy statistics in the BP Statistical Review account for it? 2. Explain why consumption of a particular energy source typically ceases long before the stock of su ...

1write a six to eight page paper in which you1outline a

1. Write a six to eight page paper in which you: 1. Outline a plan that managers in the low-calorie, frozen microwaveable food company could follow in anticipation of raising prices when selecting pricing strategies for ...

Assignment market formsfor this assignment you will do a

Assignment: Market Forms For this assignment you will do a significant portion of work in MS Excel and import it into an MS Word document for submission. You will use the data below to address Price and Output decisions ...

Economics and quantitative analysis short written responses

ECONOMICS AND QUANTITATIVE ANALYSIS SHORT WRITTEN RESPONSES - MACROECONOMICS ASSIGNMENT Instructions - Prepare short written responses for the following five (5) questions. Answers for each question must not exceed 250 w ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro