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II Submit you work through googie class-room (instruction attached). 0 You must provide graph aiong with the explanation, ifthe question asksfor it. Question I. (a) Consider the mobile banking industry of Bangladesh. Which type of market structure can explain the market mechanism in this industry? Provide three reasons in support of your answer. (5) (b) Under what circumstance the mobile-banking industry of Bangladesh might behave like a monopoly market? Explain why. (5) Question 2. (3) Explain three types of price discrimination and provide one example of each type of price discrimination. (5) (b) In which case a prot-maximizing monopolist will be resource-allocative efcient? Explain your answer. (5) Question 3. Suppose initially there is a monopolistically competitive rm earning positive prot in the market. How will the market adjust to a new long-nut equilibrium? Explain and provide adequate graph to supplement your answer. (5) Question 4. (a) Explain the concept of consumer equilibrium in terms of the Equi-marginal principle, Provide appropriate graph for explaining you answer (5) (b) Suppose you have a budget of 1000 take. The price of one unit of X is 20 taka, and the price of one unit of Y is 10 taka. If X provides you utility and Y gives you disutility, what is the equilibrium amount of X and Y for the consumer? Explain your answer using appropriate graph. (5) Tariff on Imported Good a. Suppose the oountry Home has the following demand and supply functions for a good 3: [you may assume the price p will be such that neither supply nor demand are negative}; Home Supply: (E; = 4-D + 3p Home Demand: 03 = SD 2p Home production of the good is not enough to satisfy the Home demand, so Horne also imports good it from Foreign. Dene Home's import demand for good it. little as Import Demand: or = of: of; Write the import demand equation lid in terms of the price. 11} h. Suppose the oountry Foreign has the following demand and supply functions for the good I {you may assume the price p will be such that neither supply nor demand are negative}: Foreign Supply: {23 = All] + 10p Foreign Demand: Q? = 1M! - lp Dene Foreign's export supply of good it, Fit. as Export Supply: EX = Q Q}? Write the export supply equation Ex in terms of the prioe. 11} c. Find the price such that Home's demand for imports of good a equals Foreign's export supply of good a. Denote this price as p""r [world price]. [2} d. Since this is a competitive market, the Home producers of good 3t also charge p'\"r for good it. Find the amount of good if. that Home produces and the amount that Home oonsu mes at price p\". 12} Name: 3. (12 points total) Refer to the table below which contains incomplete short run production and cost data for a firm. The cells you are asked to calculate are shaded and also contain an asterisk (") Labor Output Marginal | Average Total Total Total Average Average Average Marginal Product Product Fixed Variable Cost Fixed Variable Tol Cost of of Cost Cost Cost Cost Cost Labor Labor MP AP TFC TVC TC AFC AVC ATC MC X X 3.00 30.00 X X 10.00 40.00 7.00 2.86 4.29 110.00 4.00 130,00 4.48 Note that you do not have to calculate every number in the table. Just calculate the six numbers asked for In the questions below and any other numbers necessary to perform your calculation. (a) (2 points) For this firm, what is the total cost in the row where the firm hires 1 unit of labor? Show your calculation. (b) (2 points) For this firm, what is the marginal product of the 4th unit of labor? Show your calculation. (c) (2 points) For this firm, what is the average product of labor when 5 units of labor are employed? Show your calculation. (d) (2 points) For this firm, what is the average fixed cost in the row where 3 units of labor are hired? Show your calculation. (e) (2 points) For this firm, what is the marginal cost of each unit of output between 5 and 14 units of output? Show your calculation. (f) (2 points) For this firm, what is the average total cost in the row where 4 units of labor are hired? Show your calculation
