Monopoly Priclng10MCATCB4.2MRAR4689 101112Use the graph Monopoly Pricing to answer these questions.1. What is the maximum profit output?2. What is the price at that output?3. What is revenue per unit at that output?4. What is cost per unit at that output?5. What is total revenue at that output?6. What is total cost at that output?7. What is profit or loss per unit at that output?8. What is total profit or loss at that output?9. At what output and price combination would this firm break even?10. If this were a perfectly competitive industry (other than the fact that demandwould be perfectly elastic), excess profits would exist and new firms would enterthe industry. Since this is a monopoly situation and new firms cannot enter theindustry, what will happen to these excess profits?11. Based on your answer to question 10, if this monopoly were a government-regulated monopoly and you were the government, what restrictions, regulations,or requirements would you place on this company?$/Unit

A monopoly firm produces at the intersection point of MR and MC curve in order to maximize profit.…

$11 10 MC ATC B MR AR $ 6 7 8 9 10 11 12 the graph Monopoly Pricing to answer these questions. What is the maximum profit output? What is the price at that output? What is revenue per unit at that output? What is cost per unit at that output? What is total revenue at that output? What is total cost at that output? S/Unit %3B

$11 10 MC ATC B MR AR $ 6 7 8 9 10 11 12 the graph Monopoly Pricing to answer these questions. What is the maximum profit output? What is the price at that output? What is revenue per unit at that output? What is cost per unit at that output? What is total revenue at that output? What is total cost at that output? S/Unit %3B

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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part 10 11 needed.......
1. How much output would a monopoly firm produce? 2. What price would the monopoly firm charge? 3. Consider the deadweight loss with the monopoly.How large is the loss to consumer surplus under thismonopoly?
P $9 $7 55 B 300 rounds 740 rounds. 900 rounds MC ATC 1.200 rounds MRWD DWD $10 $9 0 100 200 350 Q 0 100 120 200 Q The graphs represent the demand for use of a local golf course for which there is no significant competition. It has a local monopoly.) P denotes the price of a round of goif and Q is the quantity of rounds sold each day. If the left graph represents the demand during weekdays and the right graph the weekend demand then over the course of a full seven-day week, this price discriminating profit-maximizing golf course should sel a total of $4 MRWE MC ATC Pwe
I. Under monopoly pricing, are profits positive, negative or zeroii. If government regulates average total cost pricing are profits positive, negative or zero?
1. How much total revenue does the monopoly firmmake? 2. How much total cost does the monopoly firm incur? 3. How much total profit does the firm make?
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i. If government regulates efficient pricing, are profits positive, negative or zero?ii. Is this a natural monopoly?
Due to barriers to entry, no firms can enter this industry: a b с Quantity 10 20 30 40 50 60 70 80 d Price $23 $20 $18 $16 $14 $12 $10 $8 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. True, if this is a monopoly True, if this is perfect competition Total Revenue None of the above $230 $400 $540 $640 $700 $720 $700 $640 True, if this is monopolistic competition Marginal Revenue $17 $14 $10 $6 $2 -$2 -$6 Total cost $340 $400 $480 $580 $700 $840 $1,020 $1,280 Marginal Cost $6 $8 $10 $12 $14 $18 $26 Average Cost $34 $20 $16 $14.50 $14 $14 $14.57 $16
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3. The graph below shows a firm's demand, marginal revenue, and marginal cost curves. Find the profit-maximizing level of output and mark it q*. Find the price the firm should charge and mark it P*. P MC X D MR Quantity 4. The Whatsa Widget Company has a monopoly over the sale of widgets in a small midwestern town. The firm's demand, marginal revenue, marginal cost, and average cost curves are shown below. Find the firm's profit-maximizing level of output and the price the firm will charge. Is the firm earning a positive or a negative profit? Show the firm's profit (or loss) on the graph. P MC X MR D ATC
10 What is the HHI value for a perfectly competitive market? For a monopoly?