What are the Solutions to the Problem Sets?

Anonymous
timer Asked: May 7th, 2019
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Question Description

Please see the attached and provide solutions with appropriate graphs and formulas.

Please draw the graphs by hand and do not use MS Word unless you can show an exact image of a graph.

Tutor Answer

EngDuke1993
School: Cornell University

Attached.

Running head: ECONOMIC PROBLEMS SET 4, SOLUTIONS

ECONOMIC PROBLEMS SET 4, SOLUTIONS
Name:
Institution affiliation:
Date:

1

ECONOMIC PROBLEMS SET 4, SOLUTIONS

2

ECONOMIC PROBLEMS SET 4, SOLUTIONS
QUESTION 1
Quantit
y
Total Revenue

Price

Marginal

Total Cost

Marginal Cost

Revenue
$

1,200

0

0

N/A

$350,000

N/A

$

1,000

1,000

1,000,000

1000

$450,000

100

$

800

2.000

1,600,000

600

$600,000

150

$

600

3,000

2,700,000

1100

$800,000

200

$

400

4,000

1,600,000

-1100

$1,200,000

400

$

200

5,000

1,000,000

-600

$1,800,000

600

(a) It is a natural monopoly because it gets less profit with decrease in price.
(b) The efficien...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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