Suppose that a monopoly faces a demand function shown in the picture below. Suppose it has a constant marginal cost of $120 and a fixedcast af $210. What is the monopolist's profit?Р400350+300250-200-150100-0000050-$1,750$1,550300$2,250$3,1005 10 1520 2530 3540q

Monopoly is a single firm market, where a single firm sells all quantity in the market.Monopolist…

Suppose that a monopoly faces a demand function shown in the picture below. Suppose it has a constant marginal cost of $120 and a fixed cost af $210. What is the monopolist's profit? Р 400 350+ 300 250- 200- 150 100- 00000 50- $1,750 $1,550 300 $2,250 $3,100 5 10 15 20 25 30 35 40 q

Suppose that a monopoly faces a demand function shown in the picture below. Suppose it has a constant marginal cost of $120 and a fixed cost af $210. What is the monopolist's profit? Р 400 350+ 300 250- 200- 150 100- 00000 50- $1,750 $1,550 300 $2,250 $3,100 5 10 15 20 25 30 35 40 q

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider a monopolist facing Demand, Marginal Costs, and Marginal Revenue as illustrated in the graph shown below. When this monopolist maximizes profit, Total Consumers' Surplus is equal to 38.75- 23.15 12.00 7.90 0 0 a b С areas a+b. zero. d 325 465 areas a+b+c+d+e. O areas c+d+e. 680 8 Marginal Revenue Marginal Costs of Production Demand 1,050 1,250 quantity
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Please solve 1.4 this is my homework
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Assume that a monopolist sells a product with a total cost function: TC = 1200+0.5Q2. The market demand curve is given by the equation: Q=300-P For what range of output will the firm's revenue be increasing? For this monopolist, the profit-maximizing price is _________, at which it will sell __________ units of output. At this price, the monopoly will earn profit equal to ____________ . If this market were supplied by many firms with the same cost function, how much would be produced? _____________ At what price would it be sold? ______________ Calculate the loss in efficiency in this market due to the monopoly _____________
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