Price(dollars)302724211815129O 3 units.O 5 units.O 4 units.Quantity demandedO 6 units.01234567Marginalrevenue(dollars)02721153-3-9Total cost(dollars)2528334049Using the data in the above table for a single-price monopolist, how many units of output will beproduced?607388

Marginal costs are the additional costs incurred when an additional unit is produced. MC is given…

Price (dollars) 30 27 24 21 18 15 12 9 3 units. O 5 units. O 4 units. Quantity demanded 6 units. 0 1 2 3 4 LO 5 6 7 Marginal revenue (dollars) 0 27 21 15 9 3 -3 -9 Total cost (dollars) 25 28 33 40 49 Using the data in the above table for a single-price monopolist, how many units of output will be produced? 60 73 88

Price (dollars) 30 27 24 21 18 15 12 9 3 units. O 5 units. O 4 units. Quantity demanded 6 units. 0 1 2 3 4 LO 5 6 7 Marginal revenue (dollars) 0 27 21 15 9 3 -3 -9 Total cost (dollars) 25 28 33 40 49 Using the data in the above table for a single-price monopolist, how many units of output will be produced? 60 73 88

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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7. Refer to Figure 16-2. Which letter identifies the profit-maximizing level of output for this firm? 8. Refer to Figure 16-2. Which letter identifies the efficient level of output for this firm?
6
of aboul $92,00 Exhibit 9-4: A Monopoly Total Quantity Total Fixed Variable Price Demanded Cost Cost $100 $20 $0 90 1 $20 20 80 $20 48 70 $20 78 60 4 $20 110 50 $20 150 Refer to Exhibit 9-4. At an output level of 3 units, the monopolist earns a total profits of about O $80.00 $92.00 O $112.00 O$110.00 2. 3. 5.
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O 560 O 620 QUESTION 4 For a non-competitive firm with a demand curve P = 1800-2Q and marginal costs of MC = $200, how much is the equilibrium price (P*)? O $500 O $750 O $1000 O $1250 QUESTION 5 For a non-competitive firm with a demand curve P = 1800-2Q and marginal costs of MC = $200, how much is the consumer surplus or net consumer value? O $160,000 O $480,000 $560,000 O $620,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 1p 1 p Feb 28
You manage one of three firms in a market. You expect that one of the other firms will produce 20 units of output and the other firm will produce 10 units of output. Your monopoly quantity is 40. How much output should your firm produce given your expectations regarding the output levels of the other two firms? O 25 O 15 O 30 O 40
Consider a monopoly using a two part tariff against consumers with downward sloping individual demand: (i) The monopolist will produce the efficient output. (ii) The monopolist will extract all surplus from consumers. O a. (ii) Holds only for homogeneous consumers, but (i) holds with hetrogeneous consumers as well. O b. Even with homogeneous consumers, the monopolist will not always be able to assure that both (i) and (ii) hold. O c. (i) and (ii) are true only when consumers are homogenous. O d. (i) holds only for homogenous consumers, but (ii) holds with hetrogeneous consumers as well.
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5- Use the figure below to answer the following questions. Price (dollars per unit) 100 80 60 40 20 O 20 MC MR 40 D 60 80 Quantity (units per week) Figure 3 a) Refer to Figure 3. If this market is perfectly competitive, the output level exceeds the single-price monopoly output level by how much? b) Refer to Figure 3. What is the allocative efficient quantity? c) Refer to Figure 3. If this market is a single-price monopoly, then what statement can be made about economic efficiency? Please explain your answer.
Exhibit 9-4: A Monopoly Total Quantity Total Fixed Variable Price Demanded Cost Cost $100 $30 $0 90 $30 20 80 $30 48 70 $30 78 60 4 $30 110 50 5 $30 150 Refer to Exhibit 9-4. At an output level of 5 units, the monopolist earns a total profits of about O S70.00 S82.00 O $100.00 O $102.00
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