Answer in step by step with explanation.Don't use Ai. A monopolist faces demand p(Q) = 65-2Q and hastotal cost TC(Q) = 100 +5Q+Q2. a. Calculate price, quantity and (producer andconsumer) surplus under perfect competition. b.Determine the profit - maximizing price, quantity,and profit for the monopolist. c. Calculate consumersurplus, producer surplus and deadweight loss undermonopoly. d. How would a price ceiling of $27affect price, quantity, producer and consumersurplus, and deadweight loss?

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Answered: A monopolist faces demand p(Q) = 65-2Q…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter23: Monopoly

Section: Chapter Questions

Problem 3QP

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The graph below shows the demand curve and cost data for a firm operating as a monopolist. In addition, Curve 4 shows average total costs (ATC). At the profit-maximizing (loss minimizing) quantity, the monopolist is experiencing a. profits b. losses c. break-even point
2. A monopolist faces the demand curve p=250-2q and its total cost function is given by TC = F + 10q, where F is a non-negative fixed cost. a. Find the profit-maximising price and quantity produced for the monopolist. b. What is the highest value of F that allows the firm to earn profits (of zero or more) rather than losses?
A monopolist faces a demand curve Q = 50P~ª and has a constant margınal cost of 75. a. Compute the price elasticity of demand. b. What is the monopolist's optimal markup of price above marginal cost? c. What is the monopolist's profit-maximizing price?
3. A monopolist faces demand p(Q) = 65 - 2Q and has total cost TC (Q) = 100 +5Q+Q². a. Calculate price, quantity and (producer and consumer) surplus under perfect competition. b. Determine the profit-maximizing price, quantity, and profit for the monopolist. d. c. Calculate consumer surplus, producer surplus and deadweight loss under monopoly. How would a price ceiling of $27 affect price, quantity, producer and consumer surplus, and deadweight loss?
A monopolist faces the demand curve Q(P ) = 50 − P 2 . The firm can produce output with marginal costs MC(Q) = Q and no fixed costs. Hint for the following questions: if revenue is of the form R(Q) = (a − bQ)Q, then the derivative of revenue is a − 2bQ. (a) What is the profit maximizing price for the monopolist in this market? (b) What is the deadweight loss from monopoly in this market, compared to the efficient output that sets price equal to marginal cost? *Please fully explain out any math
A monopolist faces the following demand curve and total cost curve for its product: Demand curve: P = 200 - QTotal cost curve: TC = 20Qa. Write the equation for the total revenue function in terms of Q. b. Write the equation for the marginal revenue function. c. What is the marginal cost? d. What is the profit-maximizing quantity for the monopolist? e. What is the profit maximizing price? f. What is the profit for the monopolist as a result?
Suppose there is a monopolist in the market for a specific video game facing a demand curve: P = 20-0.5Q with MR = 20 - Q. The monopolist marginal cost curve is MC = 4, its total variable costs are TVC = 4Q and it faces a total fixed costs equal TFC = $102. a. What is the optimal quantity to maximize profit? b. What is the optimal price to maximize profit? c. What is the profit for the monopoly? d. What is the consumer surplus?
1. The table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the table. Assume that output can only be sold in integer amounts (i.e., 1 unit, 2 units, etc.). 2. Once you have filled in marginal revenue, identify the quantity produced by the monopolist in this market.
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?
A monopolist has two sets of customers. The inverse demand for Group 1 is described by P=200-X. For Group 2, the inverse demand is P=100-X. The monopolist faces constant marginal cost of 20 and fixed costs are zero. What is the profit maximizing quantity if the firm can’t price discriminate? What is the profit if the firm can’t price discriminate? What is the consumer surplus if the firm can’t price discriminate? What is the profit maximizing quantity if the firm CAN price discriminate? What is the profit for the firm if it CAN price discriminate? What is the consumer surplus if the firm CAN price discriminate?
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