Question 1
- What is the current state of the U.S. economy?
- What statistics did you use to come to this conclusion?
- What should the President do and what is the President doing?
- What should the FED do and what are they doing?
please answer in paragraph form! Need at least one page double spaced times new roman
Question 2
Explain when the FED would use a contractionary monetary policy and an expansionary monetary policy, and what the overall result would/could be.
Question 3
A monopoly faces the inverse demand function: p = 100 – 2Q, with the corresponding marginal revenue function, MR = 100 – 4Q. The firm’s total cost of production is C = 50 + 10Q + 3Q², with a corresponding marginal cost of MC = 10 + 6Q.
a. Create a spreadsheet for Q =1, 2, 3, …, 15. Using the MR = MC rule, determine the profit-maximizing output and price for the firm and the consequent level of profit.
b. Now suppose that a specific tax of 20 per unit is imposed on the monopoly. What is the effect on the monopoly’s profit-maximizing price?
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