5. The graph below shows the short run cost curves for Single PriceMonopoly. Complete the graph by finding the monopolist's profitmaximizing output and price. Clearly label whether the firm's profit or loss.Be sure to note the ATC at the output you established since you will need itto calculate Total Costs.Note: When calculating use the closest whole number. Then answer all ofthe questions based on the information from your graph. You may copy andpast the graph and complete it by hand. Upload it as a jpeg with yourassignment. 40Revenues and costs (dollars)810200MR400Output600SMCD800ATC5.2 The firm's total revenue equals $.cost equals $of $AVC1,0005.1 The single price monopoly would charge a price of $sellunits of output.The firm makes a profit (loss)5.3 If this were a highly competitive firm the output would beand the price would beandthe firm's total5.4 On the above graph Shade in the Dead Weight Loss associated withthe single price monopoly.6. Briefly explain why a single price monopoly is inefficient.5.5 Explain what will happen in the long run to the firm and in the marketand why.

Monopolist: A monopolist is a single seller in the market and hence he faces the downward sloping…

5. The graph below shows the short run cost curves for Single Price Monopoly. Complete the graph by finding the monopolist's profit maximizing output and price. Clearly label whether the firm's profit or loss. Be sure to note the ATC at the output you established since you will need it to calculate Total Costs. Note: When calculating use the closest whole number. Then answer all of the questions based on the information from your graph. You may copy and past the graph and complete it by hand. Upload it as a jpeg with your assignment.

5. The graph below shows the short run cost curves for Single Price Monopoly. Complete the graph by finding the monopolist's profit maximizing output and price. Clearly label whether the firm's profit or loss. Be sure to note the ATC at the output you established since you will need it to calculate Total Costs. Note: When calculating use the closest whole number. Then answer all of the questions based on the information from your graph. You may copy and past the graph and complete it by hand. Upload it as a jpeg with your assignment.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Typed answer.
3. When is it optimal for a monopolist to produce the same output as in a perfectly competitive market?
In 2015, Apple introduced the Apple Watch. Assume that the cost of producing the 38mm Apple Watch Sport was $83. The price was $336. What was Apple's price/marginal cost ratio? What was its Lerner Index? If Apple is a short-run profit-maximizing monopoly, what elasticity of demand did Apple believe it faced? Part 2 Apple's price/marginal cost ratio was enter your response here.
PLEASE EXPLAIN FIRST
Please provide the correct answer along with the calculation. Do not use ChatGPT, otherwise I will give a downvote.
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The task to complete is to create a scenario in which a monopoly might form and analyze that monopoly situation. To do that, please complete the following: 1. Explain the barrier that you have that makes this company a monopoly (1 paragraph). (Tip: ead about the barriers that create a monopoly and use one of those that makes sense with your company).
1) With monopoly, we only specify long run cost functions because we are not as interested in the shut down decision and we don't have firm entry to compete away profit. Still, to make the math work, our monopolist cost functions often have fixed costs. Let's solve the following question: EagleSOFT has developed a computer program that will send UNT sports teams scores directly to purchaser's phones as text messages. Demand and total cost for the software company is described by the following equations: Demand: P = 70 -0.05Q, Cost: C = 4000 + - 10Q. a) What is the firm's level of output, the price they should charge, and their profit? b) What is the demand elasticity and Lerner index at the level of output?
Could I have help I’m struggling to remember how to find these values and can’t seem to graph
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.
Not image answer please.
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