Firm A and B both produce good Q. Demand is Q-45-0.5P, where P is price. Both firms have total cost TC-6 + 16Q, where i A.B. If the firms collude to produce the monopoly output, the resulting consumer surplus is? O342.25 O 354.75 362.22 370.74
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- Only typed AnswerIn this diagram, when this monopolist chooses the price and quantity which maximizes profit: 17.10- 12.00 8.40 6.00 0 $ 0 a OB and C are correct g d 2,720 e Marginal Revenue h O B. Deadweight-Loss is equal to "areas (c)+(f)." O A and C are correct Marginal Costs of Production O C. Producer's Surplus (i.e., "Monopoly Surplus") is equal to "areas (a)+(b)+(d)+(e)+(g)." ● A. Total Consumers' Surplus is equal to zero 4,640 5,920 Demand quantity 9,120Since the bell pepper market consists of a single firm, that firm is actually a monopoly. What is the quantity of bell peppers sold by the monopolist? Here are the previous tables, reprinted for your convenience: That firm's marginal cost schedule is: 0 |1 12 3 4 5 Furthermore, assume that the market demand is given by POHANS 11 3 Less than 2 2 Between 2 and 3 MC 13 5 7 9 11 Quantity demanded 1 2 3 4 5
- The accompanying diagram shows demand, marginal revenue, and marginal cost of a monopolist. $120 MC 110 100 90 80 70 60 50 40 30 20 10 MR 0+ Quantity o i 2 3 4 s6i s 9 10 11 12 13 14 is a) Determine the profit-maximizing output and price. b) What price and output would prevail if this firm's product was sold by price-taking firms in a perfectly competitive market? c) Calculate the deadweight loss of this monopoly. d) Suppose MC increases. How would this affect monopoly price and quantity? e) Suppose market demand became less price elastic (hint: became flatter). How does this affect monopoly price and quantity?The graph below depicts the demand curve facing a monopolist. The monopoly has constant marginal costs of $5. On the graph: A). Use the straight line tool to draw the marginal revenue curve. B) use the straight line tool to draw the marginal cost curve up to 60 units of output C) use the point tool to plot the profit maximization point on the demand curve.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): O 1225. O 2450. O2275. O 1150. auto.proctoru.com is sharing your screen. Stop sharing Hide Next • Previous UN 18 SAP
- [Q: 11-4660750j Consider a monopoly that faces an inverse demand curve with a constant elasticity, p(Q) = Q°, and that has a constant marginal cost, MC(Q) = m. If the own-price elasticity is e = - 6.9, marginal costs are m=7, and the government imposes a specific tax on the monopolist, what will be the tax incidence on consumers? O A. 65.42% O B. 38.1% OC. the same incidence as when the tax is imposed on a perfectly competitive firm. O D. 50% O E. 116.95%5Exhibit 9-4: A Monopoly Total Quantity Total Fixed Variable Price Demanded Cost Cost $100 $30 $0 90 1 $30 20 80 $30 48 70 3 $30 78 60 $30 110 50 $30 150 Refer to Exhibit 9-4. At an output level of 4 units, the monopolist earns a total profits of about $70.00 O $100.00 O $82.00 $102.00