front of those numbers. Leave no cells blank. Enter 0 if appropriate. MR (5) MC (5) P ($) 13 TR (5) e 1 2 3 4 5 6 7 8 9 10 12 units 11 10 9 8 7 6 5 3 b. What is the profit-maximizing level of output? c. What price will the monopolist charge to maximize profits? 5 5 5 5 5 5 5 5 5 be sure to includ

front of those numbers. Leave no cells blank. Enter 0 if appropriate. MR (5) MC (5) P ($) 13 TR (5) e 1 2 3 4 5 6 7 8 9 10 12 units 11 10 9 8 7 6 5 3 b. What is the profit-maximizing level of output? c. What price will the monopolist charge to maximize profits? 5 5 5 5 5 5 5 5 5 be sure to includ

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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1
nces
a. Fill in the total revenue and marginal revenue columns.
Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in
front of those numbers. Leave no cells blank. Enter 0 if appropriate.
1
LA
2
$
3
4
S
6
7
10
P ($)
13
units
12
11
10
9
8
7
6
5
4
b. What is the profit-maximizing level of output?
TR ($)
MR ($)
c. What price will the monopolist charge to maximize profits?
MC ($)
5
5
5
Un
5
5
5
5
5
monopolist producer.
5

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Explain correct option and explain the incorrect options. Hand written solutions are strictly prohibited.
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5 int ences $55 $50 $45 $40 $35 $30 $25 $20 $15 $10 $5 0 N MR units MC Quantity D 4 5 6 7 8 9 10 11 Tools DWL Instructions: In parts a and b, enter your answers as a whole number. In parts c-e, round your answers to two decimal places. a. What is the profit-maximizing level of output? b. What price will the monopolist charge to maximize profits? $ CS c. Determine the efficiency costs (deadweight loss) of monopoly output/pricing. Instructions: Use the tool provided 'DWL' to illustrate this area on the graph. Drag the points to move or resize. What is the efficiency cost (deadweight loss) of monopoly output/pricing? d. Determine the consumer surplus under monopoly output/pricing. Help Save & Exit Submit
2. As a monopolist, what quantity does DeBeers produce? What price do they charge? An ATC curve has been provided for DeBeers. These costs include marketing, mining exploration, and more.
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QUESTION 17 45- 40- 35 30- 25 Price 20- 15 10+ 5 MR MC-ATC $500 O $250 O $0 Demand 50 100 150 200 250 300 350 400 450 500 550 600 ++ Quantity The figure above depicts a monopoly. If the monopolist perfectly price discriminates, then consumer surplus amounts to $1000