The demand function for a monopolist is given by x =100 – 4p, where x is the number ofunits of product produced and sold and p is the price per unit.Find : (1) total revenue function (ii) average revenue function (ii) marginal revenue func-tion and (iv) price and quantity at which MR = 0.7. A firm knows that the demand function for one of its products is linear. It also knows thatit can sell 1000 units when the price is Rs.4 per unit and it can sell 1500 units when theprice is Rs.2 per unit.Determine :(i) the demand function (ii) the total revenue function (iii) the average revenue function (iv)the marginal revenue function.6.

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6. The demand function for a monopolist is given by x=100– 4p, where x is the number of units of product produced and sold and p is the price per unit. Find : (i) total revenue function (ii) average revenue function (ii) marginal revenue func- tion and (iv) price and quantity at which MR = 0.

6. The demand function for a monopolist is given by x=100– 4p, where x is the number of units of product produced and sold and p is the price per unit. Find : (i) total revenue function (ii) average revenue function (ii) marginal revenue func- tion and (iv) price and quantity at which MR = 0.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The demand function for a monopolist is given by x =100 – 4p, where x is the number of
units of product produced and sold and p is the price per unit.
Find : (1) total revenue function (ii) average revenue function (ii) marginal revenue func-
tion and (iv) price and quantity at which MR = 0.
7. A firm knows that the demand function for one of its products is linear. It also knows that
it can sell 1000 units when the price is Rs.4 per unit and it can sell 1500 units when the
price is Rs.2 per unit.
Determine :
(i) the demand function (ii) the total revenue function (iii) the average revenue function (iv)
the marginal revenue function.
6.

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Refer to the scenario above. The monopolist profit is maximized when the quantity sold is____ packs. How would be the price? a)Q=50, P=2 b)Q=75, P=5 c)Q=100, P=2 d)Q=150, P=5
Please help with the question attached
Pls solve sub questions 4 and 5 only
1. Suppose that a monopolist has a patent for widgets and the market demand curve Q(P) is:Q(P) = 60 – 2P,where P is the price in dollars and Q is quantity.A. If MR(Q) > 0, then total revenue increases by selling more units. If MR(Q) < 0, then total revenueincreases by selling fewer units. Calculate the Q* such that MR(Q*) = 0: this will be where total revenueis maximized.B. Determine the price P* the monopolist must charge in order to sell Q* units by plugging your answer forQ* into the inverse demand curve P(Q). C. Neatly draw a graph showing the demand curve for widgets and the marginal revenue curve, carefullyshowing the vertical and horizontal intercepts. Also show Q* and P*. PLEASE SHOW ALL WORK
3. Suppose that the elasticity of demand is e = -1.5 at every point on the demand curve and that a monopolist has a marginal cost of MC = 5. What price does the monopolist set?
Suppose that a monopolist faces inverse demand given by P = 100 - 10Q and marginal cost given by MC = 20. 1. What is the profit function? 2. What is the marginal revenue function? 3. What is the equilibrium quantity? 4. What is the equilibrium markup?
Explanation it correctly and details
Please help with the following question.
Give typing answer with explanation and conclusion A monopolist has a demand curve given by P = 88 − Q and a total cost curve given by TC = 34 + Q2. The associated marginal cost curve is MC = 2Q. Suppose the monopolist also has access to a foreign market in which he can sell whatever quantity he chooses at a constant price of 60. How much will he sell in the foreign market? What will his new quantity and price be in the original market?
A (single-price) monopolist is maximizing profits when A. the marginal revenue associated with the last unit of output is equal to its marginal cost B. the price at which they sold the last unit of output is equal to its marginal cost C. the average revenue associated with the last unit of output is equal to its marginal cost
clear step by step explain i will 5 upvotes . don't use chagpt answer.
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