Dayna’s Doorstops, Inc. (DD) is a monopolist in the doorstop industry. Its cost is C  100  5Q  Q2, and demand is P  55  2Q. a. What price should DD set to maximize profit? What output does the firm produce? How much profit and consumer surplus does DD generate? b. What would output be if DD acted like a perfect competitor and set MC  P? What profit and consumer surplus would then be generated? c. What is the deadweight loss from monopoly power in part a? d. Suppose the government, concerned about the high price of doorstops, sets a maximum price at $27. How does this affect price, quantity, consumer surplus, and DD’s profit? What is the resulting deadweight loss? e. Now suppose the government sets the maximum price at $23. How does this decision affect price, quantity, consumer surplus, DD’s profit, and deadweight loss? f. Finally, consider a maximum price of $12. What will this do to quantity, consumer surplus, profit, and deadweight loss?

Choose the best term for each definitionexpense, liability, monetary asset, statement of financial position, tangible asset, net worth, market value, investment asset, income, assetitems of monetary value a person or household ownsmoney spentmoney receivedfinancial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the futurea debt or obligation owed to othersthe amount you could realistically sell an asset forassets that can be quickly and easily converted into casha measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to othersa financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worthpersonal property that was purchased to create a lifestyle or improve your life

rural residential development company and suburban real estate corporation form a joint stock company. the longest duration a joint stock company can be formed for is

In return for their with optimizing his painting project, the castle servant informed poly and digit that he saw someone dressed as the king leaving behind a trail of crumbs as he walked into the jester's room late last night. poly and digit have finally found the crisp-collecting culprit — it turns out the jester's shoe size and hair color match the clues that were found! in gratitude, poly and digit agree to the servant with his current task of replacing all of the tables and chairs in the castle. his goal is to determine which furniture company should produce the new furniture. he receives information from a company that customizes elegant furniture, and he wants to analyze the company's production process in order to calculate some problems about cost and availability. read the following scenario, and assist poly and digit as they the servant with his calculations. the fit for a king furniture company requires 2020 hours of labor to produce a standard table, and a chair requires 1212 hours of labor. the labor available is 565565 hours per week. the company can produce at most 3535 chairs per week.