A monopolist has constant marginal cost equal to 30 and faces a market demand curve given by the following p= 100-2Q. If the monopolist is a perfect price discriminating monopolist its level of profit will be equal to (assume there is no fixed cost): 1225. O 2450. O2275. 1150.
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- Consider the following table for a monopolist to answer the question. Quantity Price (P) Total Marginal Total cost (0) revenue revenue (TC) (TR) (MR) 0 1 2 3456 O 7 8 9 10 48 O 44 40 68 64 The profit-maximizing price for the monopolist is S O 36 60 56 52 48 44 40 36 32 28 40 72 92 100 108. 112 128 160 200 256 320 Marginal cost (MC)Figure: Maximum Willingness to Pay P $100 75 45 100 100 110 125 2 125 MR MC What is the profit-maximizing quantity for this monopolist? O 110 75 DOutput D 1 2 3 4 5 Maple Choice O Refer to the demand and cost data for a pure monopolist given in the table if the monopolist perfectly price-descriminated and sold each unt of the product at the maximum price the buyer of that unit would be willing t pay, and if the monopolist maximized profits, then the total profit receved would be O 5820 $550 $1,500 Price $420 $900 380 340 300 260 220 Total Cost $250 260 290 350 500 600
- Question 17 3아- MC ATC 26 27 26 25 24 AVC 20 MR 100 190 260 300 400 What is the optimal output and price for the prafit maximizing, nondiscriminating monopolist in the exhibit above? O 190 and $30 O 190 and $26 O 190 and $25 O 260 and $28 O 300 and $27 D Question 18 $/9 30- MC ATC 28 27 AVC 26 25 24 D. 2아 MR 100 190 260 300 400 Total cost for this nondiscriminating monopolist at its profit-maximizing output level in the exhibit above is O $7280 O $4750 $5700 None of the choices are correct O $4940 D Question 19 Why is collusian to raise prices highly unlikely among firms in perfectly competitive industries? O All the firms in competitive industries love their consumers too much to ever collude against them O There is only one firm in perfectly competitive industries, so whom would they collude with? • There are too many firms in perfectly competitive industries. O The products are too differentiated for collusion in perfectly competitive industries 3 This is a trick question because…3D. lon to Mathematical Economics i Iktisat(Ingilizce)(I.Ö) 2020-2021 Bahar If the demand function for a profit-maximizing monopolist is P = 32 - Q2 and MC = 8+ 6Q, what is the consumers' surplus? a. 3.33 O b. 5.33 O c. 4.33 O d. 6.33 yfa Sonraki sayfa mak için buraya yazınA monopolist is chooses their price (and the associated quantity implied by their demand curve) such that the price elasticity demand could be either -0.5 or -1.2. Which of the following statements are true: O -0.5 could be profit maximising, but -1.2 could not be profit maximising O Neither price-elasticities of demand could be profit maximising O Both price elasticies of demand could be profit maximising O -1.2 could be profit maximising, but -0.5 could not be profit maximising
- This kind of firm operates in a small market with possibly 4 or 5 other firms, and sells a product that is the exact same product that other firms are selling. Monopolist O Oligopolist Perfect competitive firm Monopolistic competitive firm P 3 a 4 OO % 5 m 6 & 7 A 8 W P 9 s O 7Figure 15-3 Revenue and cost per unit $30 MC 24 ATC E 22 20.80 20 18 Demand MR 62 83 104 Quantity Figure 15-3 shows the cost and demand curves for a monopolistic competitor Refer to Figure 15-3. The profit-maximizing output and price for the monopolistic competitor are O output = 62; price = $18. O output = 104; price = $20.80. O output = 83; price = $22. O output = 62; price = $24.A monopolist faces the demand curve illustrated below. 12 9 -1 -2 12 13 11 15 15 1 1s 19 20 21 22 23 24 Suppose the monopolist faces a marginal cost of $5, and that there are no fixed costs. Thus, the marginal cost is equal to the average total cost in this case. Given this, what is the monopolist's profit maximizing price if it is not able to price discriminate O $5 O $8.33 O $2 O $10 $7.50 N O087654321
- Cost & Figure 15 Revenue $10 per unit MC $9 $8 АТС $7 $6 $5 $4 $3 $2 $1 MR 2 3 4 7 8 10 Quantity (in thousands) Refer to the above Figure 15 which shows cost curves, a marginal revenue (MR) curve and a demand curve faced by a monopolist. If this monopolist is profit maximizing and does not price discriminate, it will produce ( Select ] v units of output and charge a price of [ Select ] per unit. Given its cost curves, we can tell that this monopolist is currently earning [ Select ] economic profit. According to the classical welfare economics, the socially efficient quantity to be produced in this market would be [ Select ] units of output and a socially efficient price would be [Select ] per unit.The figure below shows the cost and revenue curves for a monopolist. The maximum profit earned by the non-discriminating monopolist is: Figure 9.6 s/Q 212 136 120 110 104 96 O $42,000. O $84,000. O $22,400. O $53,200. O $95,200. MC ATC 700 810 884 976 1,000 a/t 3Figure: Monopoly Profits 2 P. 18 16 14 12 10 6. MC = AC MR 0 20 40 60 80 100 120 140 160 180 Q What is the consumer surplus at the monopolist profit-maximizing output and price? O $245 $630 O $315 $280 4. 2)