If the inverse demand curve is p - 150-3Q and the marginal cost is constant at $12, how does charging the monopoly a specific tax of $18 per unit affect the society's welfare Society's welfare increases by $90.4 Society's welfare decreases by $220.5 Society's welfare increases by $170.8 Society's welfare decreases by $100.7 Society's welfare decreases by $93.8

If the inverse demand curve is p - 150-3Q and the marginal cost is constant at $12, how does charging the monopoly a specific tax of $18 per unit affect the society's welfare Society's welfare increases by $90.4 Society's welfare decreases by $220.5 Society's welfare increases by $170.8 Society's welfare decreases by $100.7 Society's welfare decreases by $93.8

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Answer everything in the photo please.
Suppose a monopoly's price elasticity of demand equals-5 and the marginal cost of production equals $500.00. The profit-maximizing price is $ 625 (Enter a numeric response using a real number rounded to two decimal places.) What will be the firm's markup? When maximizing profit, the monopoly's markup is______percent. (Round your response to the nearest percent.)
How do I figure out the second part?
The market demand for a good is P = 90 - Q. The good can be produced at a constant cost of $10. How much deadweight loss is created if the market is served by a monopolist as opposed to a competitive market?Enter as a value.
Exhibit 9-7 Monopolist (dollars) 10 8 6 0 Quantity earn an hourly profit of $240. MR As shown in Exhibit 9-7, in the short run, the monopoly will: earn an hourly profit of $80. MC break even (i.e., earn zero economic profit). suffer an hourly loss of $160.
Please hand written solutions are strictly prohibited.
A monopolist produces a certain good. The cost c for producing this good is given by c = 20q, whereq is the quantity produced. The (inverse) demand function for this product is given by p = 30 − 0.01q,where p is the price per unit of the product. We assume that the full produced quantity is sold. Thegovernment taxes the sales of the good and would like to maximize the received tax T .Suppose in first instance that the government introduces a tax of 4 monetary units per unit of theproduct sold. We determine how much the government then receives.
Suppose a monopolist sells a product to faculty members and students on the campus. If the firm sets a single price, the monopolist produces 5000 units and sell them at the price of $3 per unit. At this price, the price elasticity of demand for faculty member is -2.5. And the price elasticity of demand for students is -1.5. The monopolist is considering whether she should set different prices for the faculty members and students and asks for your advice. The monopolist is thinking about charging faculty members a 10% higher price. The quantity demanded by the faculty members would fall by %. The monopolist is thinking about charging students a 10% higher price. The quantity demanded by the students would fall by %. Who should the monopolist charge more? mention faculty and students and how much
Assume inverse demand function for game console in an imaginary country is P=1200-4Q and the total cost function is TC=400+4Q². Government put $120 of specific tax on production. a. If the market is competitive what is the incidence of tax on consumer? b. If the market is monopolist what is the incidence of tax on consumer?
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