48 44 40 36 32 28 24 20 16 12 8 ∞ 4 0 0 4 a 8 12 16 b. C € MR 20 37. What is the equilibrium quantity this monopolistic firm will offer to the market? (a) 5 (b) 21 (c) 14 (d) 25 (e) 19 MC 24 28 ATC- -AVC- D 32
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- If this is a regulated monopoly, and the regulatory agency's policy goal is zero economic profit, what would be the resulting the level of output? (a) 10 (b) 16 (c) approximately 17 (d) approximately 20Figure 6 Price $95 and cost per unit 70 59 35 20 panja 580 835 MR 1740 2204 ATC MC D Quantity 12) Refer to Figure 6 to answer the following questions. a) What quantity will this monopoly produce and what price will it charge? b) Suppose the monopoly is regulated. If the regulatory agency wants to achieve economic efficiency, what price should it require the monopoly to charge? c) To achieve economic efficiency, what quantity will the regulated monopoly produce? d) Will the regulated monopoly make a profit if it charges the price that will achieve economic efficiency? e) Suppose the government decides to regulate the monopoly by imposing a price ceiling of $35. What quantity will the monopoly produce and what price will the monopoly charge? f) With the price ceiling of $35, what profit will the monopoly earn?1. L&P Power is a natural monopoly supplying electricity for a city. The firm produces the profit-maximizing quantity of electricity and earns a positive economic profit. (a) Describe a condition that distinguishes a natural monopoly from a typical monopoly. (b) Draw a correctly labeled graph for the natural monopoly market in which L&P Power operates and show cach of the following. (i) The proſīt-maximizing quantity, labeled QM (ii) The profit-maximizing price, labeled PM (iii) The area representing economic prolit, shaded completlely (c) Suppose the government wants to regulate L&P to produce the maximum quantity that would allow it to earn zero economic profit. On your graph in part (b), show the maximum quantity it will produce to earn zero economic profit, labeled Qr, and price, labeled PR- (d) Suppose instead the government wants to regulate L&P to produce the allocatively efficient quantity. (i) Does L&P earn positive economic profit if it produces the allocatively efficient…
- 400.00 300.00 200.00 100.00 0.00 2.5 -100.00 -200.00 -300.00 -E(ys)E(YR) -E(NS) E(NR) E(YS) 100-100i E(YR)=100-50i E(IIS) -20 +100i E(IIR)= -70 +50i Assuming we are under monopoly and asymmetric information, what is the highest interest for which both types (safe and risky) stay in the market? Oi-2 Oi-0.5 O i-1 Oi-3 0 Objective functions 0.5 3.5a. What is the monopolist's profit-maximizing output and price? Output: Price: $ b. What will be the monopolist's total profit?Question 4 $19 16 13 10 0 100 MC 160180 210 Quantity MR ATC D Assume all monopolistically competitive firms in an industry have demand and costs similar to the firm shown. What should we expect? O Firms will exit the business and the demand curve will shift to the left This firm will produce where MR-MC and no other firms will enter or exit Other firms will enter the industry and the demand curve will shift to the left
- How is intellectual property different from other property?What is the profit maximizing level of output for the monopoly firm represented above? (a) 11 (b) 14 (c) 16 (d) 26Assuming that the monopolistic competitor faces the demand and costs depicted below and finds the profit maximizing level of output, what will be the firm's total cost? 20 16 12 322226284 $156 MR1 MC1 ATC1 AVC D1 1 2 3 4 5 6 7 8 9 $128 $108 $136
- Creative Homework!Shorr Project Assume that you area marketing consultant for one of the clients in ilem14.16. You believe that the business would benefitfrom nontraditional marketing. Develop seve<al ideasfor social-media tactics that you feel would be successful for the clientI. PROBLEM SOLVING Below is a data of the per-unit costs incurred by a competitor in selling face mask per pack (5 masks per pack) per day. Output (in packs) AFC (P) AVC (P) АTC (Р) MC (Р) 1 60.00 45.00 105.00 45.00 30.00 42.50 72.50 40.00 3 20.00 15.00 12.00 40.00 60.00 35.00 4 37.50 52.50 30.00 37.00 49.00 35.00 40.00 10.00 37.50 47.50 47.14 7 8.57 38.57 45.00 8 7.50 40.63 48.13 55.00 6.67 43.33 50.00 65.00 10 6.00 46.50 52.50 75.00 1. Assuming that the product's price is P58 per pack, should the competitor sell in the short-run Why or why not? If it decides to sell, what will be the profit-maximizing (or loss-minimizing output per day)? What is the profit (or loss) that the seller can realize per day? What is the profit (or loss) per pack? A. Assuming that the product price is P42 per pack, answer the same questions in letter A. B. Because of increasing sellers of masks in the market, the product's price further decreased to P32 per pack. Again, answer the same questions in letter…DN1(a) Amtrak has a monopoly on rail travel in the U.S. It uses price discrimination to offer a discounted price for adults who are currently enrolled students. The marginal cost per train ticket from Baltimore to New York is 100. The demand for regular tickets is P=1000-5Q and the demand for student tickets is P-500-Q. (a) Why would a monopolist like Amtrak offers a discounted price for adult students rather than charging them the same price as other adults?