Review the graph at nght for a monopoly market (enter all of Prce your responses as whole numbers) 100 How much is the consumer surplus? $ 90- MC 80 How much is the producer surplus? $ 70- How much is the deadweight loss? $ 160 60 Monopoly total surplus is $ 50 40 Monopoly total surplus is compettive total surplus 3020 20- 10 130 MR 0- 10 20 30 40 60 60 70 80 90 100 Ouantity

Review the graph at nght for a monopoly market (enter all of Prce your responses as whole numbers) 100 How much is the consumer surplus? $ 90- MC 80 How much is the producer surplus? $ 70- How much is the deadweight loss? $ 160 60 Monopoly total surplus is $ 50 40 Monopoly total surplus is compettive total surplus 3020 20- 10 130 MR 0- 10 20 30 40 60 60 70 80 90 100 Ouantity

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. A machine manufacturer sells high precision milling equipments. It sells the machine as well as the maintenance services. Users of milling machines from competitors were also potential sources of maintenance business. Based on a survey, customers were clustered into four segments of different size as shown below. Their willingness to pay for the machine and the maintenance service is also given in the table. The marginal cost to the firm for the machine and the maintenance services is respectively, $550 and $470, and there is no cost saving from bundling. segment Segment Size WTP for Machine WTP for maintenance 1 12 $1,250 $990 2 23 $1,450 $480 3 22 $1,180 $1,040 4 43 $1,390 $870 a. If the company uses component pricing, what are the optimal prices and the resulting profits for each item? b. If the company uses pure bundling, what are the optimal price and the resulting profit for the bundle? Between pure bundling and component pricing, which one is better for the company? Why? c.…
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Co. XYZ manufactures a productand sells it for $8 per unit. Her fixedcosts are $5,000 and her variablecost per unit is given by the equationCalculate the equilibrium quantity qalgebraically. 2.444 (X)-2200 A. (q-800) B. q=900 C. (q 650) D. None of the above In the previous problem (27), calculate the amount ofequilibrium Total Income. A. 4,500 B.$3,000 C. $7,200 D. $9,000 In the above problem (27), calculate thebreak-even Total Cost amount. A. 4,500 B. $3,000 C. $9,200 D. 7,200 In the previous problem (27)determine the profit when q-1800.modes of A. $4,500 B. 5,000 C.$6,000 D. 7,000 In the previous problem (27), determine the gain when q-450. A. $2,500 B. -$2,500 C.$6,000 D. -$4,500 In the aboveproblem (27), find the required output (q), to make a profit of$10,000. A. 3,000 B. 4,000 C. 2,500D. 2,700
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Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Suppose that there are customers distributed evenly across a line which runs from 0 to 1. There are two competing vendors that choose where on the line to locate. Customers buy from whichever vendor is closest to their location. If the first vendor is located at 1/3, what is the best response for the second vendor? A B C 2/3 1/2 Slightly to the left of 1/3 D Slightly to the right of 1/3
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Derive the following with complete solution a. supply equationb. demand equationc. equilibrium quantityd. equilibrium price
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Suppose that the supply and demand schedules for a local electric utility are as follows:Price 17 16 15 14 13 12 11Quantity supplied 9 7 5 3 1 - -Quantity demanded 3 4 5 6 7 8 9The price is in cents per kilowatt hour (kWh), and the quantity is millions of kilowatt hours. The utilitydoes not operate at prices less than 13 cents per kWh.(a) Using graph paper and a ruler, or a computer spreadsheet or presentation program, carefully graphand label the supply curve for electricity.(b) On the same graph, draw and label the demand curve for electricity.(c) What is the equilibrium price of electricity? The equilibrium quantity? Label this point on yourgraph.(d) At a price of 17 cents per kWh, what is the quantity supplied? What is the quantity demanded? Whatis the relationship between quantity supplied and quantity demanded? What term do economists useto describe this situation?(e) At a price of 14 cents per kWh, what is the relationship between quantity supplied and quantitydemanded? What…