ok st nces The following table shows the cost and revenue data for Molly the monopolist. Total Revenue Marginal Cost Quantity per Period 0 1 2 3 4 5 6 1 B 9 Price $30 30 29 28 27 26 25 24 22 20 $ 0 30 58 84 108 130 150 168 176 180 Marginal Revenue $ $ 27 20 20 9 22 23 24 27 27 Total Cost $5 32 52 72 83 105 128 152 206 a. Complete the table above. b. What are Molly's profit-maximizing output and price, and what will be the amount of her profit? Output: Price:$ Profit: $

ok st nces The following table shows the cost and revenue data for Molly the monopolist. Total Revenue Marginal Cost Quantity per Period 0 1 2 3 4 5 6 1 B 9 Price $30 30 29 28 27 26 25 24 22 20 $ 0 30 58 84 108 130 150 168 176 180 Marginal Revenue $ $ 27 20 20 9 22 23 24 27 27 Total Cost $5 32 52 72 83 105 128 152 206 a. Complete the table above. b. What are Molly's profit-maximizing output and price, and what will be the amount of her profit? Output: Price:$ Profit: $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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8. The following figure shows the marginal revenue [MR], demand, and average cost [AC] curves for a profit-maximizing monopolist. Price a. IFA b. FGH c. AFGB d. BGEO B O G 12 C MR H EJ AC Demand Quantity The loss in welfare in the market due to the monopoly firm is
1. What are the various reasons that causes monopoly? Explain and provide an example of each. 2. Explain the characteristics of a monopoly. How it is different from a perfect competition? 3. Refer to the graph below: 105 100 - MC 95 90 АТС 85 80 75 70 65 - 60 55 50 45 + 40 + 35 30 25 20 15 10 MR Demand +++++ YTTI 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100105110115120 e In the above graph calculate the following? a. The profit maximization quantity b. Price that the monopolist will charge at that level c. Total revenue at that level d. Total cost at that level e. Profit or loss (if any) at that level
O Macmillan Learning (Figure: Determining Monopolist Profit) Based on the graph, the profit-maximizing price is at point Price and Cost h Of. O g. d. C MR Output MC ATC
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QUESTION 12 The table below shows a monopolist's demand curve and the cost information for the production of its good. What will their profits equal? Quantity Price per UnitTotal Cost 10 $100 20 $80 $60 $40 $20 O 30 40 50 a. $600 O b. $1,200 O c. $1,600 O d. $1,000 $100 $400 $800 $1,400 $2,400
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1. How much total revenue does the monopoly firmmake? 2. How much total cost does the monopoly firm incur? 3. How much total profit does the firm make?
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i. If government regulates efficient pricing, are profits positive, negative or zero?ii. Is this a natural monopoly?
Due to barriers to entry, no firms can enter this industry: a b с Quantity 10 20 30 40 50 60 70 80 d Price $23 $20 $18 $16 $14 $12 $10 $8 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. True, if this is a monopoly True, if this is perfect competition Total Revenue None of the above $230 $400 $540 $640 $700 $720 $700 $640 True, if this is monopolistic competition Marginal Revenue $17 $14 $10 $6 $2 -$2 -$6 Total cost $340 $400 $480 $580 $700 $840 $1,020 $1,280 Marginal Cost $6 $8 $10 $12 $14 $18 $26 Average Cost $34 $20 $16 $14.50 $14 $14 $14.57 $16