Quantity Price$35123456789Q=7Q = 5$29Q=4$23Q=6$17Total Revenue$35$64$120Both Q = 6 or Q = 7$99AverageRevenue$32$11MarginalRevenueRefer to Table 15-1. Assume this monopolist's marginal cost is constant at $17. What is the profit-maximizing quantity(Q) of output?$29$17$11-$1-$7-$13

A monopolist will produce where MR = MC MR is the marginal revenue MC is the marginal cost. The…

Quantity Price $35 1 23&sor∞a 4 5 6 9 Q = 7 Q = 5 $29 Q=4 $23 0 = 6 $17 Total Revenue $35 $64 $120 Both Q = 6 or Q = 7 $99 Average Revenue $32 $11 Refer to Table 15-1. Assume this monopolist's marginal cost is constant at $17. What is the profit-maximizing quantity (Q) of output? Marginal Revenue $29 $17 $11 -$1 -$7 -$13

Quantity Price $35 1 23&sor∞a 4 5 6 9 Q = 7 Q = 5 $29 Q=4 $23 0 = 6 $17 Total Revenue $35 $64 $120 Both Q = 6 or Q = 7 $99 Average Revenue $32 $11 Refer to Table 15-1. Assume this monopolist's marginal cost is constant at $17. What is the profit-maximizing quantity (Q) of output? Marginal Revenue $29 $17 $11 -$1 -$7 -$13

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Consider a monopolist where the market demand curve for the produce is given by P = 520 2Q. This monopolist has marginal costs that can be expressed as MC = 100 + 2Q and total costs that can be expressed as TC = 100Q + Q2 + 50.a. Given the above information, what is this monopolists profit maximizing price and output if it charges a single price?b. Given the above information, calculate this single price monopolists profit.c. At the profit maximizing quantity, what is this monopolists average total cost of production (ATC)?
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Refer to the accompanying table, which represents the costs and production for a monopolist. Price Quantity Fixed Cost Variable Cost $20 0 $10 $0 $18 1 $10 $5 $16 2 $10 $8 $14 3 $10 $18 $12 4 $10 $30 $10 5 $10 $44 1) At Q=2, the marginal cost of this firm is $ ____ 2)The profit made by this profit-maximizing firm is $ __
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Macmillan Learning (Figure: The Profit-Maximizing Output and Price in the Diamond Market) Use Figure: The Profit-Maximizing Output and Price in the Diamond Market. Assume that there are no fixed costs and that AC=MC=$200. The profit-maximizing output for a monopolist is: Price, cost, marginal revenue of diamond $1,000 O ⁰. 08. 0000 16. 20. Incorrect 800 600 400 200 0 -200 -400 MR 8 10 MC 0 16 20 Quantity of diamonds
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Cost & Figure 15 Revenue $10 per unit MC $9 $8 АТС $7 $6 $5 $4 $3 $2 $1 MR 2 3 4 7 8 10 Quantity (in thousands) Refer to the above Figure 15 which shows cost curves, a marginal revenue (MR) curve and a demand curve faced by a monopolist. If this monopolist is profit maximizing and does not price discriminate, it will produce ( Select ] v units of output and charge a price of [ Select ] per unit. Given its cost curves, we can tell that this monopolist is currently earning [ Select ] economic profit. According to the classical welfare economics, the socially efficient quantity to be produced in this market would be [ Select ] units of output and a socially efficient price would be [Select ] per unit.
Exhibit 9-5 Demand and cost data for a monopolist Price Quantity TR MR TC Profit $10 1 10 10 4 9 2 8 8 3 12 7 4 16 6 5 20 5 6 24 4 7 28 3 8 32 2 9 36 1 10 40 Refer to Exhibit 9-5. The demand schedule and cost schedule for a monopolist are provided. Which output level maximizes profit?
Chapter 9 - Monopoly OPEN Suppose the following are true for a monopolist market: P = 450 - 16Q MR = 450-32Q MC = 55+ 37Q ATC=55+ 18.5Q What is the profit maximizing Price and Quantity? Q* = P = S How much profit did the monopolist earn? Profit = S O E a hp * a