Refer to the following table. This information reflects the demand curve and the average cost curve for a firm that is a natural monopoly. What is this firm's marginal revenue when price is dropped from $13 to $11? Price Quantity Demanded LRAC $13 1 $10.50 $11 2 $9.75 $9 $9.50 $7 $9.625 $5 $10.30 Al $9.75 $9 CO $1 DO $10.50 3. 4.

Refer to the following table. This information reflects the demand curve and the average cost curve for a firm that is a natural monopoly. What is this firm's marginal revenue when price is dropped from $13 to $11? Price Quantity Demanded LRAC $13 1 $10.50 $11 2 $9.75 $9 $9.50 $7 $9.625 $5 $10.30 Al $9.75 $9 CO $1 DO $10.50 3. 4.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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
i. If government regulates efficient pricing, are profits positive, negative or zero?ii. Is this a natural monopoly?
Figure 15-5 The following graph depicts the market situation for a monopoly pastry shop called Bearclaws. 22 20 MC 18 16 14 ATC 12 10 8 6 4 MR 2 20 40 60 80 100 120 140 QUANTITY Refer to Figure 15-5. Based upon the information shown, what is total revenue for Bearclaws, given that it maximizes profits? $490. $900. $1,080. $980. PRICE
For a single-price monopoly shown in the figure below, when its profit is maximized, output will be 95 19 15 45 65 MR MC ATC D 65 units per year and the price will be $15. O I choose to use one of my three skips on this question. O 45 units per year and the price will be $19. 65 units per year and the price will be $19. O 45 units per year and the price will be $15.
Due to barriers to entry, no firms can enter this industry: a b с Quantity 10 20 30 40 50 60 70 80 d Price $23 $20 $18 $16 $14 $12 $10 $8 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. True, if this is a monopoly True, if this is perfect competition Total Revenue None of the above $230 $400 $540 $640 $700 $720 $700 $640 True, if this is monopolistic competition Marginal Revenue $17 $14 $10 $6 $2 -$2 -$6 Total cost $340 $400 $480 $580 $700 $840 $1,020 $1,280 Marginal Cost $6 $8 $10 $12 $14 $18 $26 Average Cost $34 $20 $16 $14.50 $14 $14 $14.57 $16
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PLEASE EXPLAIN FIRST
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Ll.27.
Consider a monopoly firm in the short run for which marginal revenue equals rising marginal cost at 150 units of output. At this output, the firm's total cost is $2000, total fixed cost is $800, marginal revenue is $3, and elasticity of demand is 2. Which of the following statements is correct about this firm? The firm should expand production beyond 150 units. O The firm is making a loss greater than total fixed cost and should shut down. The firm is making a profit and should continue to produce 150 units. The firm is making a loss smaller than total fixed cost and should continue to produce 150 units.