Do monopoly firms get a normal profit or supernormal profit in the short run? Explain how?

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Do monopoly firms get a normal profit or supernormal profit in the
short run? Explain how?

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From the importing country’s point of view, a tariff is better than a quota because a. a tariff has a smaller effect on imports than does a quota. b. a tariff has a larger effect on imports than does a quota. c. the tariff generates tax revenue for the government. d. both reduce imports but only quotas increase price.
In a perfect competitive industry, the market price is R20. An individual firm produces output at which MC=R25. What should the firm do to maximise profits or to minimise losses in the short run? A. they should leave the output unchanged. B. they should increse production. C. they should decrease production. D. they should shut down.
As a result of imbalance in revenue generation by provincial governments and local municipalities in South Africa, intergovernmental grants have been a important source of finance for Local Governments. The allocations of these funds for use in the local authorities have been questionable, some doubting if the funds are use for what they were earmarked for. Critically discuss, with the aid of diagrams the conditional no -matching grants with unconditional nonmatching grant?
MRS of X for Y refers to the amount of Y the consumer is willing to give up in order to gain one additional unit of X (and still remain in the same indifference curve!) Exercise 1 Draw the indifference curve using the data in the table at the left. Calculate and check that MRS mentioned in the table are correct. Is the MRSxy a decreasing function in X?
Do monopoly firms always make profit and when should a monopoly firm shut down ?
Consider an economy that is open to foreign trade and described by the following model: C = 200 + 0.65Y I = 350 G = 500 X = 250 Z = 300 t = 15% m = 20% Yf = 2 000. Where: C = consumption I = investment G = government spending t = tax rate X = exports Z = imports M = marginal propensity to import Yf = full employment income Y = income. 1.1 Calculate the multiplier of the economy. (3) 1.2 Calculate the total autonomous spending. (2) 1.3 Calculate the equilibrium income for this economy. (3) 1.4 Calculate the amount of government spending required to reach full employment level of income. (4) 1.5 Based on the value of net exports, what conclusions can be made about the economy in question? (5) 1.6 Briefly explain the effect of an increase in the tax rate on the multiplier.
The table below shows the values of selected macroeconomics variables over a period: YEAR 1 (R-Billion) YEAR 2 (R-Billion) Investment 200 220 Saving 180 190 Export 100 110 Imports 120 140 Government Expenditure 150 160 Taxation 150 160 Equilibrium National Income 1 800 2 000 (a) Calculate the value of the multiplier for this economy. (b) Should the full employment level of income be R-B2 255, by how much should government change its spending to reach this level of income during the next year given the multiplier has not changed. (c) Evaluate whether or not this policy approach is effective in real life in achieving the desired level of GDP.
Elasticity of demand will increase when?