A healthcare provider that is a monopoly - faces the following market demand schedule: P 20 18 16 14 12 10 8 6 4 2 0 Q 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 What is the marginal revenue of the 3500th unit? (You can assume that the marginal revenue is spread out evenly for each 500 quantity increments).

A healthcare provider that is a monopoly - faces the following market demand schedule: P 20 18 16 14 12 10 8 6 4 2 0 Q 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 What is the marginal revenue of the 3500th unit? (You can assume that the marginal revenue is spread out evenly for each 500 quantity increments).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Figure 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 $35, what profit will the monopoly earn?
What is the DWL from the monopoly depicted below? 40 36 32 28 24 16 12 8 222220 4 Demand 250 500 750 1000 1250 1500 1750 2000 2250 250 MR 7500 8000 12000 12500
8. Natural monopoly analysis The following graph shows the demand (D) for electricity services in the imaginary town of Utilityburg. The graph also shows the marginal revenue (MR) curve, the marginal cost (MC) curve, and the average total cost (ATC) curve for the local electricity company, a natural monopolist. On the following graph, use the black point (plus symbol) to indicate the profit-maximizing price and quantity for this natural monopolist. 40 36 Monopoly Outcome 32 20 16 АТС -МС 12 8 MR D 0 0 1 2 3 4 5 6 7 8 9 10 QUANTITY (Thousands of kilowatt-hours) 28 24 PRICE (Cents per Kilowatt-hour)
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GRAPH Show Deadweight Loss off Show Economic Profit/Loss ($) Price, Average/Marginal Cost Regular Monopoly Natural Monopoly Off SETTINGS 225 200 175 MC 150 125 100 75 50 25 ATC AVC MR D 0 20 40 60 80 100 120 140 160 180 Quantity (units per month) Reset PROFIT CALCULATIONS Cost Structure Low Cost abcdefghijklmno Quantity 40 Quantity 60 Market Price (Pmkt) $125.00 High Cost Marginal Revenue (MR) $50.00 Marginal Cost (MC) $55.00 Revenue $7,500.00 120 Costs $5,066.67 Profit $2,433.33 nstructions: Make sure the interactive is set to "Regular Monopoly" on the upper right side of the Graph section. When "Regular Monopoly" is selected, it will have a dark blue background. a. Describe how the cost curves change when you move the "cost structure" slider from low to high. All of the cost curves shift up. b. Describe the two points on the graph that move as you adjust the Quantity slider. The point where MC intersects MR. The point on the D curve for the chosen quantity. The point where MC…
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explain the most likely reason that sydney water management has a monopoly
Examples of deregulated markets
A healthcare provider - that is a monopoly - faces the following market demand schedule: P 100 90 80 70 60 50 40 30 20 10 0 Q 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 What is the maximum profit assuming that each unit costs $30 for the firm to produce and there are no other costs of production?