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(a) Consider a two-sector model Y = C+ I C 0.8Y1+100; I = 200; Find an expression for Y, when Y = 1700 (b)
(a) Consider a two-sector model Y = C+ I C 0.8Y1+100; I = 200; Find an expression for Y, when Y = 1700 (b) (10 Marks) (i) A firm's marginal cost function is given as: MC = Q + 2Q + 4. Find the total cost function if the fixed costs are 100. (ii) The marginal revenue function of a monopolistic producer is: MR = total revenue function and deduce the corresponding demand equation. (6 Marks) 10 - 4Q. Find (9) Marks
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
1st Edition
978-1464146978, 1464146977
