Output 0 1 2 3 4 5 Price $450 $300 $250 $200 $150 $100 Total Cost $250 $260 $290 $350 $480 $700 The information above is based on a pure monopolist. At its profit- maximizing output, the given pure monopolist is earning an economic profit of $ Please do not input the $sign. If your answer is $500 please input 500 for your answer.

Output 0 1 2 3 4 5 Price $450 $300 $250 $200 $150 $100 Total Cost $250 $260 $290 $350 $480 $700 The information above is based on a pure monopolist. At its profit- maximizing output, the given pure monopolist is earning an economic profit of $ Please do not input the $sign. If your answer is $500 please input 500 for your answer.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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) 11 $1,000$⁢1,000 $1,000$⁢1,000 $710$⁢710 22 $905$⁢905 $1,810$⁢1,810 $785$⁢785 33 $810$⁢810 $2,430$⁢2,430 $875$⁢875 44 $715$⁢715 $2,860$⁢2,860 $1,070$⁢1,070 55 $620$⁢620 $3,100$⁢3,100 $1,310$⁢1,310 66 $525$⁢525 $3,150$⁢3,150 $1,650$⁢1,650 77 $451$⁢451 $3,160$⁢3,160 $2,290$⁢2,290 Determine the firm's profit-maximizing price. Write the exact answer. Do not round.
Total Marginal Revenue Average Total Cost Marginal Output Price Cost $100 $100 $100.00 $30 06 80 63.00 26 80 60 52.67 32 70 40 49.50 40 60 20 49.60 50 50 50.00 52 40 30 -20 52.29 66 8. -40 55.75 80 9. 20 -60 60.67 100 10 10 -80 67.60 130 Refer to the table above for a pure monopolist. The profit-maximizing price for this monopolist is: O$ 60 $90 $70 $80 Next Page 12345
Question 33 Suppose a monopolist faces the demand curve P = 200 – 2Q, has marginal cost curve MC = 2Q, and zero fixed costs. If the monopolist can perfectly price discriminate, which of the following is true? The monopolist sells 33 units at a profit of 3300. The monopolist sells 33 units at a profit of 1650. The monopolist sells 50 units at a profit of 5000. The monopolist sells 50 units at a profit of 2500.
The table below shows cost data for producing different amounts of cleaning products. Suppose this market is a monopoly. Use the information in the table to find the output where the monopoly would maximize profit. Price ($) Quantity Total Revenue ($) Total Cost ($) 150 0 0 100 120 5 600 180 100 10 1000 400 90 15 1350 675 80 20 1600 1120 70 25 1750 1750 Profit maximizing quantity: What is the profit the monopoly achieved? $
PRICE OR COST (per pound) $14 13 12 11 10 6 8 7 S 5 321 0 MC=MR Marginal cost 1 2 3 Average total cost MC=p 4 5 6 QUANTITY (pounds of fish per hour) Marginal revenue Demand Monopoly produces less and charges more. 7 8 9 The information diagram above shows a nondiscriminating monopolist's demand, marginal revenue and costs. What is the monopolist's economic profit? Please do not input the $ sign in the answer box. If your answer is $200, please input 200 for your answer.
The data below relate to a monopolist and the product it produces. If the firm wants to produce where marginal revenue equals marginal cost, what is the firm's profit? 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
The demand (downward sloping line) and marginal cost (upward sloping curve) of a monopolist are shown. Use the segment tool to add a marginal revenue curve to the graph. Then, use the point tool to indicate the monopolists profit maximizing price/quantity combination. Segment Point A Undo - Redo x Reset 10 10 quantity Price
27 $50 $45 $40 i of $35 $30 $25 ATC, Demand = P $20 $15 FLRATC = LRMC $10 MR $5 $0 20 40 60 80 100 120 Output (Q) The diagram above shows the Demand, MR, and cost curves for a monopolist in both the short-run and long-run. According to the information on the graph, the monopolist will maximize profit in the SHORT-run by choosing Output (Q) level and in the LONG- run by choosing Output (Q) level Select one: а. 25; 40 b. 40; 25 С. 25;B 80 d. 40; 80
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Suppose a monopolist faces the following costs for the various levels of output shown below. Output Total Cost Average Total Cost 500 $1,000 500 3,000 1600 12,000 4,800 60,000 9,600 360,000
he following table shows a monopolist’s demand curve and cost information for the production of its good. What quantity will it produce and sell to maximize profits? Quantity Price per Unit Total Cost 10 $14 $20 20 $12 $60 30 $10 $120 40 $8 $200 50 $6 $300 60 $2 $420
I will rate and like, thank you! Easy economics question. Create graph that includes: Demand curve, marginal cost, and marginal revenue. Identify the profit-maximizing quantity and price for this monopolist. To do this you will need to determine marginal revenue at each level of output. Choose output that satisfies the monopolist’s profit maximizing condition of MR = MC. Does this firm earn a profit? How much profit if they do?