3. The Buckaroo Company faces the following inverse demand curve for its patented product known as a "didgeridoo": P=190-Q Its total cost function is TC = 100 + 10q a. (3 points) Assume the firm charges its single profit-maximizing price. Draw a graph that illustrates the effect on efficiency. If there is a deadweight loss, show it on the graph and calculate its size. If there is no deadweight loss, explain why not. Show your work: No work no credit!

34 Suppose you run a resort just outside of Mesquite, Nevada. The following table represents the maximum willingness to pay for one night stay and one round of golf for David and John. Assume the marginal cost of a one night stay is $20 and $0 for a round of golf. David John $50 $110 $80 $35 If you set prices for lodging and golf individually, you will charge $ type your answer... One night stay: One round of golf: for one night's stay, $ type your answer... for one round of golf, and earn a profit of $ type your answer... If instead you bundle a one-night stay with a round of golf, you will charge $ type your answer... for the bundle and earn a profit of $ type your answer...

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M1

a. How much should George charge if he must charge a single price to all customer? At this price, how many portraits will George produce each day? What will be his economic profit?   b. How much consumer surplus is generated each day at this price?

Solve all this question......you will not solve all questions then I will give you down?? upvote....

Please answer with explanation. I will really upvote

(a) What is meant  by consumer surplus and producer surplus? Using a diagram show that there is a deadweight loss to society from monopoly in terms of total  surplus. (b) In what ways is a monopolistically competitive firm likely to be less efficient than one under perfect competition?

10

Suppose that the fish processor could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the water park would no longer be affected. If the fish processor uses the recycling method, then the fish processor's economic profit is $1,000 per week, and the water park's economic profit is $2,600 per week. If the fish processor does not use the recycling method, then the fish processor's economic profit is $1,700 per week, and the water park's economic profit is $1,500 per week. These figures are summarized in the following table. Complete the following table by computing the total profit (the fish processor's economic profit and the water park's economic profit combined) with and without recycling. Action Profit Fish Processor  Water Park Total (Dollars) (Dollars) (Dollars) No Recycling 1,700 1,500   Recycling 1,000 2,600     Total economic profit is…