5. The demand equation of a monopoly firm is: P = 146 – 3Q²and the marginal cost is: MC = 4Q + 12, then find the total revenue and consumer's surplus.
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![5. The demand equation of a monopoly firm is: P = 146 – 3Q²and the marginal cost is: MC = 4Q + 12, then
find the total revenue and consumer's surplus.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc9e03e8-1824-4199-ab97-449de1e98fdb%2Ff3493925-26e1-4c18-b345-c897bcf38344%2Fmpy4y1v_processed.png&w=3840&q=75)
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- a. At what output rate and price does the monopolist operate? b. In equilibrium, approximately what is the firm’s total cost and total revenue? c. What is the firm’s economic profit or loss in equilibrium?Please explain each step. A monopoly's inverse demand function is as follows: P = 1450 - 58Q. Its total cost function is as follows: TC= 2500 +50Q + 12Q^2. a. What is the profit maximizing output for this firm? b. What price will the firm charge? c. What will be the firm's total profit? d. What is the price elasticity of demand at the profit-maximizing output?The accompanying graph depicts the marginal revenue (MR), demand (D), and marginal cost (MC) curves for a monopoly. Suppose the monopolist able to successfully price discriminate between two groups by charging one group $60 and charging $35 to the other group. c. What are the firm's profits if it charges the two prices as mentioned above?
- 4 The inverse demand curve a monopoly faces is p=120−Q. The firm's cost curve is C(Q)=20+5Q. Part 2 What is the profit-maximizing solution? The profit-maximizing quantity is 57.557.5. (Round your answer to two decimal places.) The profit-maximizing price is $62.562.5. (round your answer to two decimal places.) Part 3 What is the firm's economic profit? The firm earns a profit of $enter your response here. (round your answer to two decimal places.)The table below shows cost data for producing different amounts of cleaning products. Suppose this market is a monopoly. Use the information in the table to find the output where the monopoly would maximize profit. Price ($) 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? $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)
- Consider the local cable company, a natural monopoly. The following graph shows the monthly demand curve for cable services and the company's marginal revenue (MR), marginal cost (MC), and average total cost (ATC) curves. (? 100 90 80 70 60 50 40 30 20 ATC 10 I MC MR D 2 4 6 8 10 12 14 16 18 20 QUANTITY (Thousands of subscriptions) Suppose that the government has decided not to regulate this industry, and the firm is free to maximize profits, without constraints. Complete the first row of the following table. Short Run Quantity Price Pricing Mechanism (Subscriptions) (Dollars per subscription) Profit Long-Run Decision Profit Maximization Marginal-Cost Pricing Average-Cost Pricing Suppose that the government forces the monopolist to set the price equal to marginal cost. Complete the second row of the previous table. Suppose that the government forces the monopolist to set the price equal to average total cost. Complete the third row of the previous table. True or False: Over time, the…Homework Unanswered A monopoly is producing where marginal cost is $10,000 and marginal revenue is $15,000 in an industry where demand is above the average cost. Place the following actions in order to describe the steps the monopoly would take to maximize its profits. Drag and drop options into correct order and submit. For keyboard navigation... SHOW MORE III = E The firm realizes that as it increase production, total revenue will go up by more than cost increases. III = ||| The quantity produced will be larger than at the beginning and the price will be lower. = The monopoly will produce more units up to the point where marginal cost equals marginal revenue. The monopoly will make positive economic profits at the new price and quantity. As they increase quantity price is determined by the demand curve. There will be a surplus if the price is too high. Unanswered Submit(Problem 8-4) You are the manager of a monopoly, and your analysts have estimated your demand and cost functions as P = 300 − 3Q and C(Q) = 1,500 + 2Q2, respectively. A. What price-quantity combination maximizes revenue? Price: Quantity: B. Calculate the maximum revenues. $
- a. At what output rate and price does the monopolist operate? b. In equilibrium, approximately what is the firm’s total cost and total revenue? c. What is the firm’s economic profit or loss in equilibrium?1. Given the demand function and total cost function in monopoly market: Q = 120 – 5P TC = 100+3Q+0.005Q2 where Q is the quantity produced, P is the price and TC is the total cost ($). (1) Please find the optimal Q and P for the objective of Maximum Total Profit. (2) Please find the optimal Q and P for the objective of Maximum Net Total Benefit. (3) Please compare the social welfare, consumer surplus and producer surplus for these two objectives. 2. What is Oligopoly? Please give 5 examples of Oligopoly market.A monopoly faces a demand elasticity of -5 and marginal cost of $1, what is the optimal monopoly price? (Calculate using the monopoly pricing formula) What is the Lerner index?
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