QUESTION 9 After a complex process of mergers and acquisitions, the technology company Globocorp Enterprises has acquired control of all the world's sigmantium (which is a semi-conductor that is essential to manufacture mobile phones). As a result of its control of international sigmantium production, Globocorp Enterprises is now the world's only supplier of mobiles and it therefore operates as a profit maximising monopolist in this market. Their marginal cost of production for each mobile is $160 per phone. Below is a table of prices Globocorp can charge for each mobile that it produces, and the corresponding quantities sold on any given day. Price ($/mobile phone) 400 380 360 340 320 300 Quantity (mobile phones) 45000 50000 55000 60000 65000 70000 What is Globocorp Enterprises' daily revenue at the profit maximising level of production? Answer to the nearest whole number (with no the table above

QUESTION 9 After a complex process of mergers and acquisitions, the technology company Globocorp Enterprises has acquired control of all the world's sigmantium (which is a semi-conductor that is essential to manufacture mobile phones). As a result of its control of international sigmantium production, Globocorp Enterprises is now the world's only supplier of mobiles and it therefore operates as a profit maximising monopolist in this market. Their marginal cost of production for each mobile is $160 per phone. Below is a table of prices Globocorp can charge for each mobile that it produces, and the corresponding quantities sold on any given day. Price ($/mobile phone) 400 380 360 340 320 300 Quantity (mobile phones) 45000 50000 55000 60000 65000 70000 What is Globocorp Enterprises' daily revenue at the profit maximising level of production? Answer to the nearest whole number (with no the table above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Pleasant Island has two natural gas wells, one owned by Mack and the other owned by Tom. Each well has a valve that controls the rate of flow of gas, and the marginal cost of producing gas is zero. The table below gives the demand schedule for gas on this island. Price (dollars per unit) $100 88888; 70 50 30 20 10 0 Quantity Demanded (units per day) If Mack and Tom form a cartel and maximize their joint profits, the price of gas on Pleasant Island will be $ If Mack and Tom are forced to sell at the perfectly competitive price, the price of gas on Pleasant Island will be $ 5 15 25 35 45 55 65 per unit. (Enter your response as a whole number) per unit (Enter your response as a whole number)
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The newly founded country of Cardamom, which has similar laws to the United States, has a wealthy government with plenty of resources to help them run the country; they also have extensive electricity generation knowledge and resources. Spark is a natural unregulated monopoly in the country of Cardamom, which currently controls the country's electricity supply and makes an annual profit of $250,000. Recently, Spark's outrageous electricity prices have led to riots and general public discontent. In response, the government is considering various public policies to decrease the inefficiency. Classify the suggestions based on whether the government recommendations are potentially plausible or not. Plausible actions by the government Implausible actions by the government Answer Bank The government regulates output at the point where marginal revenue = marginal cost. The government recommends Spark buying out and merging with the country's public education system. The government tells Spark…
Step Two Respond to the following: Dunkin’ Donuts assumes you, like all the other locally-owned shops, will choose to close rather than compete and that they will have a monopoly on donut sales in your area. If they made that assumption, What quantity of donuts would they be most likely to sell to maximize profits? What price would they charge per donut? Review the 9.3 Donut Shop and Perfect Competition assignment. How do Dunkin’ Donuts’s production and pricing compare with the production and pricing of your area’s donut shops when there was a perfectly competitive market? What could Dunkin’ Donuts do to create barriers that would prevent others from entering the market and make it harder for you to remain in the market? If they take those measures, what could you do to remain in the market?
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