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3 years ago

Groups of countries that seek mutual economic benefit from reducing interregional trade and tariff barriers are called _________

Business

1 answer:

soldier1979 [14.2K]3 years ago

3 0

Answer:

Explanation:

Multinational market regions are groups of countries that seek mutual economic benefit from reducing interregional trade and tariff barriers.

Types of multinational market regions

Regional Cooperation Groups.
Free Trade Area
Customs Union.
Common Market
Political Union

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A monopoly market is characterized by the inverse demand curve P = 1,200 – 40 Q and a constant marginal cost of $200. If the mar

Sergeeva-Olga [200]

Answer:

The profit maximizing output level declines by 2.5 units and the price rises by $100.

Explanation:

In a monopoly market the inverse demand curve is given as,

P = 1,200 - 40Q

The marginal cost of production of the last unit is $200.

The total revenue is

= $Price\times Quantity$

= $1,200Q - 40Q^{2}$

The marginal revenue of the last unit is

= $\frac{d}{dx} TR$

= 1,200 - 80Q

At equilibrium the marginal revenue is equal to marginal price,

MR = MC

1,200 - 80Q = 200

80Q = 1,000

Q = 12.5

Putting the value of Q in the inverse demand function,

P = $1,200 - 40\times 12.5$

P = $700

Now, if the marginal cost rises to $400,

At equilibrium the marginal revenue is equal to marginal price,

MR = MC

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80Q = 800

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3 years ago