If a monopolist wishes to produce a positive quantity then their optimal output decision satisfies which of the following conditions? O Average Revenue = Marginal Cost O Average Revenue = Average Cost O Marginal Revenue = Marginal Cost O Marginal Revenue = Average Cost O Average Variable Cost = Average Fixed Cost O No Answer
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- The monopolist faces the demand curve D(p) = 100 – 2p. Its cost function is c(y) = 2y. What is your optimal level of production and prices? Solve mathematically and graphThe demand function facing the monopolist is given by D(p) 10/p, and the monopolist has positive marginsl cost of c. What is the profit maximising level of outputOnly answer BOLD and ITALIC part of the question. A monopolist has discovered that the inverse demand function of a person with income Y for the monopolist’s product is P = 0.002Y-Q where P is the price, Y the income, and Q is the output. The monopolist can observe the incomes of its consumers and hence vary its price accordingly. The monopolist has a total cost function C(Q) = 100Q. A monopolist has a constant marginal cost of £2 per unit and no fixed costs. He faces two separate markets in the United States and in the UK. The goods sold in one market are never resold in the other. He sets one price P1 for the US market and another price P2 for the UK market (both measured in £). The demand in the United States is given by Q1=7,000-700P1 and the demand in the UK is given by Q2=1,200-200P2. - Calculate the profit maximising output produced and price charged in each country by the price-discriminating monopolist and comment in which country the price charged is higher and by how much.…
- The data below relate to a monopolist and the product it produces. If the firm wants to maximize profit, what output and price will it choose? Quantity Price per Unit Total Cost 0 $22 $20 1 $20 $24 2 $18 $27 3 $15 $32 4 $14 $40 5 $12 $49 6 $10 $59 Question 1 options: a) Q=4 : P=$14 b) Q=5 : P=$12 c) Q=2 : P=$18 d) Q=3 : P=$15.The table below shows a monopolist's demand curve and the cost information for the production of its good. If the monopolist is trying to maximize its profit what would it be? Quantity Price per Unit Total Cost 10 $100 $100 20 $80 $400 30 $60 $800 40 $40 $1,400 50 $20 $2,400 Question 40 options: a) $1,200 b) $1,000 c) $1,600 d) $1, 800If a monopolist is able to increase the amount of product she sells from 500 to 525 units by lowering the price of that product from $25 to $20, her marginal revenue is: Instructions: If you are entering a negative number include a minus sign.
- The region of demand in which the monopolist will choose a price-output combination will be: elastic because as price declines and output increases, total revenue will decrease. O inelastic because as price declines and output increases, total revenue will decrease. Oelastic because as price declines and output increases, total revenue will increase. inelastic because as price declines and output increases, total revenue will increase.If the monopolist is incurring a short run economic loss, what are some options the monopolist has? Will the monopolist produce an output level that is allocatively efficient? Will the monopolist produce an output level that is technically efficient?The demand function for a monopolist is given by x =100 – 4p, where x is the number of units of product produced and sold and p is the price per unit. Find : (1) total revenue function (ii) average revenue function (ii) marginal revenue func- tion and (iv) price and quantity at which MR = 0. 7. A firm knows that the demand function for one of its products is linear. It also knows that it can sell 1000 units when the price is Rs.4 per unit and it can sell 1500 units when the price is Rs.2 per unit. Determine : (i) the demand function (ii) the total revenue function (iii) the average revenue function (iv) the marginal revenue function. 6.
- Consider a monopolist that sells cable subscriptions. When the price is $10 a week, it can sell 175 subscriptions. When the price is $15 a week, it can sell 100 subscriptions. The monopolist has fixed costs of $200. The MC for the provision of the cable is $6 a week. If this monopolist must choose between selling 100 or 175 subscriptions, it will choose to sell units at a price of and earn economic profits equal to 175; $10; $700 100; $15; $700 175; $15; $900 100; $15; $900 none of the aboveCurrently a monopolist's profit maximizing output is 400 units per week and it sells output at price of $60 per unit. The total cost of the form are $10,000 per week. The firm is maximizing it's profit and it earns $40 in extra revenue from the sale of the last unit.Assume the ATC equals four dollars this monopolist will earn how much profit