Only for Ta's with a degree in economics please. I need detailed answers illustrated with graphs.

1.By using the appropriate graph , can you explain and illustrate the transfer of consumer surpulus from a perfectly competitive firm to a monopolist. Please use the same graph to also show and explain the dead weight loss which results from monopoly. 2.By using a graph, can you illustrate the long run equilibirium of a firm ...continues

Micro Problems

I have 3 short Micro problems that I need some help with. Please provide detailed explanations.

Only for Ta's with a degree in Economics please. I need detailed answers illustrated with graphs.

1. If the prices of A, B and C are $2. $3, and $1 respectively, and the consumer has $26 to spend on these three products, what combination of the three products should be purchased in order to maximize utility? Please show how you get the answer. (Please see file attached) 2. Can you explain and illustrate with graphs ...continues

Game Theory #1 - Dominant Strategy/Nash Eq. (VHS vs. Betamax)

Please show all work and diagrams if necessary. 1) In the initial videocassette market (home use), there were two competing standards: Sony's Betamax and the VHS standard. Using hypothetical payoffs, we can analyze how both manufacturers can benefit from cooperation rather than competition. The following lists the payoff ...continues

Microeconomics -- marginal social costs (pollution problem)

#2) The marginal social costs and abatement costs of a certain type of air pollution for a factory are given as: MSC = -1121 + 22.5Q MCA = 879 - 17.5Q Q = units of pollution per day, and MSC and MCA are measured in dollars. The Factory is located in a small town that is currently considering how to address the pollution ...continues

Pricing Problem: Two-part tariff

Background: Merriwell Corporation has a virtual monopoly in the ultra high-speed computer market. Merriwell has recently introduced a new computer that will be used by satellite installations around the world. The installations have identical demands for the computers. Merriwell's managers have decided to lease rather than s ...continues

Game Theory - Dominant Strategy

4) Mitchell Electronics produces a home video game that has become very popular with children. Mitchell's managers have reason to believe that Wright Televideo Company is considering entering the market with a competing product. Mitchell must decide whether to set a high price to accommodate entry or a low price to deter entry ...continues

Microeconomic Multiple Choice problems

Please indicate which answers are correct: 1) Externalities a) Are not reflected in market prices, so they can be a source of economic inefficiency b) Do become reflected in market prices, so they can be a source of economic inefficiency c) Are not reflect in market prices, so they do not adversely affect economic effici ...continues

Profit Maximization and Producer Surplus

Profit Maximization and Producer Surplus. Please show all your work. 1) Consider a competitive market in which the market demand curve for microwave ovens is expressed as: P = 1000 - 5Q And the supply of microwave ovens is expressed as: P = 100 + Q Where P is the price per unit and Q is the total number of micr ...continues

Long Run Equilibrium

(a)Prove that the long-run cost function is the envelope of short-run cost functions. (b) Characterize the long-run equilibrium of a perfectly competitive industry in which average costs rise as output increases, under both restricted and free entry.