Please study the resp a) The Price and Quantity of Maple syrup produced by a monopolist is given in the following table. 0 $4.50 4.00 3.50 3.00 2.50 3 4 2.00 1.50 i) Find TR. ii) Find AR i) Find MR ..(3) .......

Please study the resp a) The Price and Quantity of Maple syrup produced by a monopolist is given in the following table. 0 $4.50 4.00 3.50 3.00 2.50 3 4 2.00 1.50 i) Find TR. ii) Find AR i) Find MR ..(3) .......

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A monopolist is faced with the following cost and revenue curves:(picture) a.What is the maximum-profit price and output,total revenue, total cost and profit? b.If the monopolist were ordered to produce 300 units, what would be the market price and how much profit would now be made c.If the monopolist were faced with the same demand, but average costs were constant at £60 per unit, what output would maximise profit? What would be the price now?................................................................................................. (j) How much profit would now be made? ................................................................................... (k) Assume now that the monopolist decides not to maximise profits, but instead sets a price of £40. How much will now be sold? .................................................................................................................................................. (l) What is the marginal revenue at this…
Charging a price to different groups depending on their different demand elasticities is described as ... Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a b C Write your response here... d e Question 9 1st Deg Price Discrimination 2nd Deg Price Discrimination 3rd Deg Price Discrimination 2-part pricing Bundling