18) When a firm saw the price of its product rise from $240 to $260 per unit, it increased its production and saw its total revenues rise from $10.8 million to $14.3 million. What is the firm's elasticity of supply?
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- Given below is a diagram showing the relationship of Internet providers price and the number of subscribers. Compute the Consumer surplus. * 3000 1600 secPEOnly typed answer Assume that the demand for a standard (i.e. non-luxury seat) ticket to a Cleveland Indians game is represented by the function: P = 80 – 0.625Q and MR = 80 – 1.25Q and MC = 30 a. What single price will maximize monopoly profit? b. What will be the prices and quantity under two-part pricing? c. Calculate and compare the profits for each option.What is mean by ''high powered moeny'' H? What does the demand for H consits of? Who controls the supply H?
- Question 42 The case for drilling oil in ANWR is strengthened when the: O negative impact of drilling on the environment is greater. O elasticity of demand for oil increases. O price of oil is higher. O price of oil is lower.Mailings Review View Help Advanced Threat Protection and it hasn't detected any threats. If you need to edit this file, click enable editing. 2-) Hypothetical monopoly costs and revenue Quantity Price Total cost $500 $400 2 450 650 3 400 950 350 1,300 300 1,700 Table 1 In Table 1, using the profit-maximization rule, calculate MC, MR and write the profit- maximization quantity and the price:2500-p The demand equation for a product is found to be q where p is the price of the product in dollars and q is the quantity. a. Find the price elasticity of demand when the price is $30. b. Is the demand elastic, inelastic, or unit elastic? How do you know? c. Based on your findings, should the company increase the price? Why or why not?
- Table: Prices and Demand Quantity of Hats Demanded 0 1 2345699 7 8 Price per Hat $30 XHHNARY 28 26 24 22 20 18 16 14 (Ref 27-8 Table: Prices and Demand) Use Table 27-8: Prices and Demand. The New Orleans Saints have a monopoly on Saints logo baseball hats. The Saints sell at most 1 hat to each customer, and the table shows each customer's willingness to pay. The marginal cost of producing a hat is $18, and there are no fixed costs. How much is the Saints' profit at the profit-maximizing output? O a. $18 O b. $24 O c. $12 O d. $30AaBbCcDc AaBbCcDc AaBbC A- T Normal I No Spac. Heading 1 H- Paragraph Styles 10 (Note: Point A is the midpoint of the demand curve) Demand 0. 2 3456 Pounds of cheese at At Point A the elasticity of demand is-1 Figure 13.3 1) Refer to Figure 13.3. The marginal revenue of the fourth pound of cheese is 2) Refer to Figure 13.3. The marginal revenue of the sixth pound of cheese is 3) Refer to Figure 13.3. This firm's total revenue will be maximized at a price of 4) Refer to Figure 13.3. This firm's marginal revenue will be positive at 5) Refer to Figure 13.3. This firm's marginal revenue will be negative at EAccessibility Investigate Price per unit o87654e ap sep 0 ja ajaloo Purwas ap o Consider a town in which only two residents, Clancy and Eileen, own wells that produce water safe for drinking. Clancy and Eileen can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water. Tab Caps Lock Price (Dollars per gallon) 6.00 5.50 5.00 4.50 Esc is 81°F Sunny 4.00 3.50 3.00 2.50 2.00 1.50 1.00 ! 0.50 0 7 Q A Quantity Demanded (Gallons of water) 0 45 17 F2 8- @ Suppose Clancy and Eileen form a cartel and behave as a monopolist. The profit-maximizing price is $ gallons. As part of their cartel agreement, Clancy and Eileen agree to split production equally. Therefore, Clancy's profit is - C VE 2 W 90 135 S. 180 225 270 315 360 405 450 495 540 F3 0+ #M 3 Total Revenue (Dollars) 0 $247.50 $450.00 $607.50 $720.00 $787.50 $810.00 $787.50 $720.00 $607.50 E F4 BO $450.00 $247.50 0 D $ 4 F5 R F % 5 F6 D T F7 ^ 6 G 4- Y FB J+ & 7 per gallon, and the total…
- 19. A federal regulatory commission recently charged a nationwide chain store with pressuring manufacturers to supply toys exclusively to its stores. The federal regulatory commission's action is an example of which of the following? A. settling a labor dispute on behalf of workers B. preventing unfair competition in an industry C. fully inspecting products before shipment D. enforcing safety standards for consumersTHE DEMAND FUNTION SHOWSC. Assume that if electricity is supplied by competitive firms, the market price is 55 and the quantity supplied is 8 (‘000 KWHs)? What is the amount of the deadweight loss to society of producing electricity by monopolist Global Gas and Electric? (It is helpful to have a graphical illustration based on the data above so you could calculate easily the DWL. )