# What are the Solutions to the Problem Sets?

Anonymous
account_balance_wallet \$9.99

### 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.

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...

flag Report DMCA
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.

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors