(Last Word) In 1994, the U.S. Department of Justice stopped which of the followingpractices?airlines explicitly agreeing to divide the market so that each carrier could have alocal monopolyairlines preposting fare changes as a form of tacit collusionMicrosoft using its monopoly power to coerce computer manufacturers to favorInternet Explorer over rival browsersprice-fixing by Japanese, German, and Swedish auto parts makers

US department of Justice is a department of United States government.

Answered: (Last Word) In 1994, the U.S.…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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(Figure: Type A and Type B I) Suppose a firm plans to use indirect price discrimination through quantity discounts. The firm cannot identify which customers are Type A or Type B before the purchase, so the firm would like to offer a regular-price plan and a quantity-discount plan to suit the customers' personal price sensitivity. Type A Price (S) 3- Price (S) 4 3 2- 1 03 5 6 0 4 MR 1 2 3 4 5 6 7 D MC 8 9 10 Quantity 2.50 2 1 The minimum number of units customers should have to buy to get the discount is 0 Type B MC MR 2 4 6 8 10 12 14 16 18 20 22 24 Quantity D
If this graph represents the market for Sonoran hotdogs in Tucson , which statement is true? A The market is monopolistically competitive and at its long run equilibrium B The market is a monopoly and firms are earning positive profits C The market is an oligopoly and firms are earning positive profits D The market is perfectly competitive and firms are suffering losses E The market is monopolistically competitive and not at its long run equilibrium
(Table: Profit-Maximizing Monopolist) Refer to the table. When this monopolist sells 8 units, its average cost and marginal cost per unit levels are: Price ($) Quantity (Units) Total Cost ($) Average Cost ($) Average Revenue ($) Marginal Cost ($) Marginal Revenue ($) 11 6 17 10 7 19 9 8 21 8 9 23 7 10 25 $2.63 and $2, respectively. $2.63 and $4, respectively. $2.56 and $4, respectively. $2.56 and $2, respectively.
Please answer part a,b,c
Only typed answer 8. Natural monopoly analysis The following graph gives the demand (D) curve for satellite TV services in the fictional town of Streamship Springs. The graph also shows the marginal revenue (MR) curve, the marginal cost (MC) curve, and the average total cost (ATC) curve for the local satellite TV company, a natural monopolist.
(Table) Suppose a monopolist faces the demand relationship shown in the table. Marginal revenue for the second unit of output is: Quantity Demanded Price $10 $8 $7 $5 $3 $2 1 2. 3. 4 O A. $2. OB. $6 OC. $7. O D.$21.
Quantity, price, total revenue, and total cost for a monopoly firm that produces cement are listed in the table below. Quantity, (Q) (tons) Price (P) Total Revenue (TR) Total Cost (TC) 1 $1,050 $1,050 $1,050 2 $970 $1,940 $720 3 $890 $2,670 $870 4 $810 $3,240 $1,140 5 $730 $3,650 $1,550 6 $650 $3,900 $2,020 7 $570 $3,990 $2,600 Determine the firm's profit-maximizing price.
The table below depicts the daily output, price, and costs of a monopoly dry cleaner located near the campus of a remote college town. Compute the revenues at each output level and fill in the blanks (Enter dollars and cents and include minus signs where necessary.) Output (Suits Cleaned) 0 1 2 3 4 5 6 8 Price per Suit ($) $14.00 $13.50 $13.00 $12.50 $12.00 $11.50 $11.00 $10.50 $10.00 Total Costs ($) Total Revenue ($) $3.00 $6.00 $8.50 $10.50 $11.50 $13.50 $22.00 $30.00 $40.00 $ $ S S $
Question 3
Topic B Problem: When the Edmonton Oilers built a new arena, Rogers Place, they claimed that they raised ticket prices to cover the higher costs associated with the new stadium. If the Oilers are profitable, should the extra costs from a new arena be responsible for raising ticket prices? If your answer is no, explain why ticket prices rise after building a new arena. To keep the Topic B problem simple, assume the Oilers are a monopoly in their market and assume there is only one ticket price. Hint: determine if a new arena is a fixed or variable cost.
8. Natural monopoly analysis The following graph gives the demand (D) curve for 5G LTE services in the fictional town of Streamship Springs. The graph also shows the marginal revenue (MR) curve, the marginal cost (MC) curve, and the average total cost (ATC) curve for the local 5G LTE company, a natural monopolist. On the following graph, use the black point (plus symbol) to indicate the profit-maximizing price and quantity for this natural monopolist. PRICE (Dollars per gigabyte of data) 20 18 16 14 12 10 80 6 4 2 0 0 1 MR 2 3 4 5 6 7 QUANTITY (Gigabytes of data) 8 ATC MC 9 10 D Monopoly Outcome Which of the following statements are true about this natural monopoly? Check all that apply.
4 ✓ 7 ✓ 10 ✓ 13 ✓ 19 ✓ 5 ✓ 22 8 ✓ 11 14 > 12 16 17 18 ✓ ✓ ✓ 15 A> 20 21 Y ✓ 23 24 5 6 7 8 Reference: Ref 13-12 (Table: Prices and Demand) Look at the table Prices and Demand. The New Orleans Saints have a monopoly on Saints hats, and we know that the Saints must charge the same price for every hat sold. The marginal revenue of the fourth unit is: A) $24. B) $16. C) $22. 20 18 16 14 D) -$2. Question 26 (Mandatory) (1 point)

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