Quantity SoldPrice(units)Total Cost$1010$80920100830130740170650230560300470380Refer to Table 23-3. A single-price monopolist that seeks to maximize profits will sella. 10; $10O b.50; $6O c. 20; $9O d. 40; $7units and charge a per-unit price of

The objective of the question is to determine the quantity and price at which a single-price…

Answered: Quantity Sold Price (units) Total Cost…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Problem 1QTC

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Exhibit 9-4: A Monopoly Total Quantity Total Fixed Variable Price Demanded Cost Cost $100 $20 $0 ts 90 1 $20 20 80 $20 48 70 $20 78 ments 60 4 $20 110 50 $20 150 Refer to Exhibit 9-4. At an output level of 4 units, the monopolist earns a total profits of about Tutoring $112.00 shboard $118.00 $110.00 O $120.00 erts
The graph below depicts the demand curve facing a monopolist. The monopoly has constant marginal costs of $5. On the graph: A). Use the straight line tool to draw the marginal revenue curve. B) use the straight line tool to draw the marginal cost curve up to 60 units of output C) use the point tool to plot the profit maximization point on the demand curve.
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ATC MC, $59 $50 $45 $38 $35 $26 $12 ........ MR 38 74 82 90 Refer to the figure above. It illustrates a monopoly market. Suppose the monopolist wants to maximize its profit. What price should the monopolist charge? Select one: O a. $35 Ob. $82 Oc. $50 O d. $45
If the monopolist shown in the following figure could practice first-degree price discrimination, the consumer surplus would be: Price (dollars) 50 40 30 20 10 0 O $450.00 $900.00 $0.00 $225.00 O $1,200.00 30 50 60 MR 100 MC Quantity
A monopolist faces the following demand curve: Price $10 $9 $8 $7 $6 $5 $4 $3 Quantity 5 Select one: O a. 31 units O b. 7 units O c. 16 units O d. 23 units 10 16 23 31 45 52 60 The monopolist has total fixed costs of $40 and a constant marginal cost of $5. What is the profit-maximizing level of output?
9. The kinked demand curve Wilke is a manufacturer in the oligopolistically competitive market for footballs. Two other manufacturers, Rawlding and Spaldon, compete with Wilke for football consumers. Wilke faces the kinked demand curve for footballs depicted on the graph. Initially, Wilke charges $30 per football, producing and selling 7 million footballs per year. PRICE (DOLLARS PER BALL) 36 35 34 33 32 31 30 29 28 27 28 5 в 7 8 FOOTBALLS (Millions of balls) 9 10 ? As an oligopolist, Wilke is a price maker. If Wilke raises the price of its football from $30 to $32 per ball, the quantity of Wilke footballs demanded million footballs per year. If Wilke reduces the price of its football from $30 to $28 per ball, the quantity of footballs demanded million footballs per year. (Hint: Mouse over the points on the graph to see their coordinates.) by by If Wilke lowers the price of its football below $30, the kinked demand curve model suggests that Rawlding and Spaldon will respond by
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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
6.

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Quantity Sold Price (units) Total Cost $10 10 $80 9 20 100 8 30 130 7 40 170 6 50 230 5 60 300 4 70 380 Refer to Table 23-3. A single-price monopolist that seeks to maximize profits will sell a. 10; $10 O b.50; $6 O c. 20; $9 O d. 40; $7 units and charge a per-unit price of