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A: *Answer .
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Q: Explain monopoly theory, including cost functions. show on a graph what is deadweight loss.
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- Question 51 To maximize profits, a monopolist will Group of answer choices set quantity where P=MC and have P>MR. set quantity where MR=MC and set P=MR. set quantity where P=MR and have MR=MC. set quantity where MR=MC and go up to the demand curve at that quantity to set PReferring to the given graph of a monopoly firm, which statement states a correct outcome in case of single price for good is charged by a monopolist: D MR -MC-ATC D Quantity Area A represents the consumer surplus, Area C represents the producer surplus and deadweight loss is represented by area B+D+E. Area B represents the consumer surplus, Area C+D represents the producer surplus and deadweight loss is represented by area D+E. Area A+B represents the consumer surplus; Area C+D represents the producer surplus and deadweight loss is represented by area E. Area A+B represents the consumer surplus; Area C represents the producer surplus and deadweight loss is represented by area E+F.Suppose the table below presents the demand schedule of the sole medicine manufacturer in the country. The marginal and average cost of the monopolist is constant at 5. Quantity Price 10 1 8 3 7 4 7 8. 6. 10 What is the profit maximizing quantity and price? Please show how you got your answer. 6 4.
- Consider the relationship between monopoly pricing and the price elasticity of demand.An unregulated natural monopoly bottles Mt. McKinley air, unique clean air that has no substitutes. The monopoly's total fixed cost is $30,000 a year and its marginal cost is 10 cents a can. The graph illustrates the demand for Mt. McKinley air. Draw the average total cost curve. Plot the four control points at the quantities 100,000, 200,000, 300,000, and 400,000. Label the curve. Draw a point at the new quantity and price if the regulator sets a price cap such that the monopoly breaks even. The number of cans produced sold its marginal cost. A. is; benefit; exceeds B. is not; benefit; exceeds OC. is not; revenue; is greater than D. is; revenue; equals the efficient quantity because the marginal from the last can 60- 50- 40- 30- 20 20 10- Price (cents per can) 0- ATC MC D $300 100 200 300 400 Quantity (thousands of cans per year) >>> Draw only the objects specified in the question. 500The table below shows cost data for producing different amounts of cleaning products. Suppose this market is a monopoly. Use the information in the table to find the output where the monopoly would maximize profit. Price ($) Quantity Total Revenue ($) Total Cost ($) 150 0 0 100 120 5 600 180 100 10 1000 400 90 15 1350 675 80 20 1600 1120 70 25 1750 1750 Profit maximizing quantity: What is the profit the monopoly achieved? $
- What is true about the monopoly's marginal revenue? Assume no price discrimination please (just one price can be used ) a.Marginal revenue is lower than the price (except for the first unit), because selling more requires the monopoly to discount the former units as well b. Marginal revenue is equal to price c.Marginal revenue is higher than price d.None of the other answers is correct Which one?A monopoly sellsits good in the United States, where the elasticity of demand is -2.5, and in Japan, where the elasticity of demand is -5.4. Its marginal cost is $50. At what price does the monopoly sell its good in each country if resales are impossible? The price in the United States is $ (Round your answer to the nearest peniny) The price in Japan is $ (Round your answer to the nearest penny)Hawkins Micro Brewery has a monopoly on Oatmeal stout in the local market. The inverse demand is P=50-5Q. The marginal revenue is MR=50-1Q. MC=5+5Q Calculate Hawkins profit-maximizing output. Calculate the producer surplus. Calculate the deadweight loss. Suppose the local government wants to impose a price ceiling. What is the optimal price ceiling? If Hawkins was able to practice perfect price discrimination what price would it charge? What is the new producer surplus?
- Use the following information to determine the optimal decisions. Inverse Demand: P = 115 - 0.05Q MR = 115 - 0.1Q TC = 300 + 3Q + 0.2Q2 MC = 3 + 0.4Q Acting like a monopoly what profit would the Pendleton P.A.C make for each show?monopoly sells at a price equal to marginal revenue (P=IM) a. trueb. falseThe Mamas and the Papas, a monopolist, faces a constant marginal cost of $3 of producing cashews. If it believes the elasticity of demand for cashews is -4, calculate the price it should charge for its product.
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