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xhibit 9-2 Demand and cost information for a
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The marginal revenue of the second unit of output in Exhibit 9-2 is:
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- Suppose a monopoly's price is $180.00 and its marginal cost of production is $90.00. What is the firm's markup? The monopoly's markup is percent. (Enter a numeric response using a real number rounded to two decimal places.) étv 13 80 DII esc F1 F2 F3 F4 F6 F7 FB @ 23 $ 1 4 6 7 Q W E R Y tab F caps lock C V B mift fn control option command つ * 00 つ エ 关 SI1. Asssume the following equations describe the conditions for an unregulated monopoly: Qd = q = 25,000 -100P or P = 250-0.01q TC = 480,000 + 70q + 0.005q2 where Qd is the quantity demanded for the firm, P is the commodity's price in dollars, TC is total cost in dollars, and q is the quantity of output produced. Based upon the above equations, answer the following questions: a. What is the firm's profit maximizing quantity of output? b. What price will the firm charge for the commodity c. What does the firm's total economic profit equal? d. What is the amount of deadweight loss that exists given the monopoly is unregulated? Assume the government is now going to regulate this monopoly, and the regulators want to guarentee the monopolist produces the socially optimal quantity of output. e. What is the socially optimal quantity of output? f. What price would regulators establish to guarantee the monopolist produces the socially optimal quantity of output? g. What does the firm's…The marginal revenue curve in a monopoly: O lies below the demand curve O equals the demand curve O is parallel with the demand curve does not exist in a monopoly
- A price discriminating monopoly sells in two markets whose demand scehules are: p1=12.5-0.0625q1 , p2=7.2-0.002q2 and faces the horizontal marginal cost schedule MC=5. what price and output should it choose for each market?Dear tutor, please solve these True/False Questions. Thank You! A monopoly always operates in the inelastic portion of its demand curve. The less elastic is the demand for a firm's product, the greater is that firm's market power.Homework Unanswered A monopoly is producing where marginal cost is $10,000 and marginal revenue is $15,000 in an industry where demand is above the average cost. Place the following actions in order to describe the steps the monopoly would take to maximize its profits. Drag and drop options into correct order and submit. For keyboard navigation... SHOW MORE III = E The firm realizes that as it increase production, total revenue will go up by more than cost increases. III = ||| The quantity produced will be larger than at the beginning and the price will be lower. = The monopoly will produce more units up to the point where marginal cost equals marginal revenue. The monopoly will make positive economic profits at the new price and quantity. As they increase quantity price is determined by the demand curve. There will be a surplus if the price is too high. Unanswered Submit
- Assume a monopoly firm is considering the production of two brands, 1 and 2. Marginal cost is constant at 20 for both products -- assume no fixed costs. The inverse demand for brand i is pi=140−qi−dqj , where i≠j and d is a constant. Part A) Find the firm's QUANTITIESThe demand and total cost functions for a monopoly firm are: Q(P) = 39.5 – 0.5P TC(Q) = 60 – Q + 0.5 Q2 1. What is the firm’s profit πM? Indicate this on the graph. 2. What are the firm's fixed and variable costs? 3. What would be the socially optimal Q* and P* (round to 1 decimal place if needed)You are the manager of a monopoly, and your analysts have estimated your demand and cost functions as P = 300-2Q and C(Q) = 1,500 + 2Q2, respectively. a. What price-quantity combination maximizes your firm's profits? Instructions: Round your response to the nearest penny (two decimal places). Price: $ Quantity: units b. Calculate the maximum profits. Instructions: Round your response to the nearest penny (two decimal places). $ c. Is demand elastic, inelastic, or unit elastic at the profit - maximizing price-quantity combination? multiple choice 1 Unit elastic Elastic Inelastic d. What price- quantity combination maximizes revenue? Instructions: Round your response to the nearest penny (two decimal places). Price: $ Quantity: units e. Calculate the maximum revenues. Instructions: Round your response to the nearest penny (two decimal places). $ f. Is demand elastic, inelastic, or unit elastic at the revenue - maximizing price-quantity combination? multiple choice 2 Unit elastic Elastic…
- A monopolist seller of Irish ceramics faces the following demand function for its product: P = 62 - .25Q. The fixed cost is $20 and the average variable cost per unit is $.5. What is the profit maximizing quantity for this monopoly? The price elasticity of demand at the monopoly price is _____ Please do fast ASAP fastA monopolist has the following information: (use this to answer questions 8-10) Demand: P = 100 - .1Q AC = MC= 10 MR = 100 - .2Q at the profit maximizing level of output, economic profit is: O 20,150 20,250 20,350 20,450Below is a representation of the demand curve for diamonds. Assume DeBeers is operating as a monopoly. 1. As a monopolist, what is the total effect of a price change from $2,400 to $1,600 on revenue? Break this change into an increase and a decrease. If you were to do exercise 1 in for every marginal change in price, you would find the marginal revenue curve. The marginal revenue diagram has been provided for the next exercises, along with the marginal costs for DeBeers.
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