Quantity ofOutput0.12345Total Cost$250260290350480700Product Price$ 500300250200150100At its profit-maximizing output, the nondiscriminating pure monopolist whose information is in the accompanying table

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At its profit-maximizing output, the nondiscriminating pure monopolist whose information is in the accompanying table

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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At its profit-maximizing output, the nondiscriminating pure monopolist whose information is in the accompanying table

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A monopolistic competitor has the following information about cost and demand. Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost Average ($) Cost($) 0 25 0 25 30 2 24 48 23 35 2.5 175 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16 If this industry was perfectly competitive, what price would the good sell for? $15 $19 $21 $23
A monopolistic competitor has the following information about cost and demand. Price ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Quantity Total Revenue Average Cost($) ($) 15 15 175 14 70 13 180 1 36 10 13 130 11 190 19 15 12 180 207 3.4 13.8 20 11 220 7 225 3.6 11.25 25 10 250 5 250 10 30 270 3 290 8. 9.67 35 8 280 335 9.57 40 7 280 -1 385 10 9.63 45 6. 270 -3 465 16 10.33 50 5 250 565 20 11.3 What will this firm's profits equal in the long run? -$55 $0 $250 $280
Explain the profit-maximizing output level and profit of a monopolisticfirm by drawing a graph.
The demand curve of a monopolistically competitive form is Select one: Perfectly inelastic Perfectly elastic Highly, but not perfectly elastic Relatively, but not perfectly inelastic None of the answers are correct
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Quantity 0 5 10 15 20 25 30 Price $22 20 16 14 12 10 Profit Profit-maximizing quantity Profit-maximizing price 18 Total Revenue 50 100 180 240 280 300 300 Total Cost $50 55 57.5 62.5 72.5 122.5 Marginal Cost Marginal Revenue $1 0.5 2 4 6 1 10 12 8 Instructions: Enter your answers as whole numbers. For profit, round your answer to 2 decimal places. 0 20
What type of product by individual firms are in a monopolistic competition and how is the ease of entry and exit in that market for individual firms.
why is a firm in a monopolistic competition said to be competive?in what sense is hat firm monoplistic
A monopolistic competitor has the following information about cost and demand. Quantity Price ($) Total Marginal Total Cost Marginal Revenue Revenue ($) Cost ($) Average Cost($) ($) ($) 0 15 0 15 175 5 14 70 13 180 1 36 10 13 130 11 190 2 19 15 12 180 9 207 3.4 13.8 20 11 220 7 225 3.6 11.25 25 10 250 5 250 5 10 30 35 40 45 9816 270 3 290 8 9.67 280 1 335 9 9.57 7 280 -1 385 10 9.63 270 -3 465 16 10.33 50 5 250 -5 565 20 11.3 Then, in the long run equilibrium, the firm will sell this good at what price? 1) $5 2) $7 3) $10 4) $14