3 HelpSave & ExitSuppose that a price-discriminating monopolist has segregated its market into two groups of buyers as shown in the table below.a. Calculate the missing total-revenue and marginal-revenue amounts for Group 1.Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure toinclude a negative sign (-) in front of those numbers.Group 1Group 2QuantityDemandedMarginalRevenueTotalQuantityDemandedPriceTotalRevenueMarginalRevenueRevenuePrice$1151001.832713$710 $63463163 $63555511047486483144344274241682437837185173333198132910297.203b. Assume that MC is $13 in both markets and MC = ATC at all output levels. What price will the firm charge in each market?Group 1:units at a price ofGroup 2:units at a price of< Prev3 of 50Next > b. Assume that MC is $13 in both markets and MC = ATC at all output levels. What price will the firm charge in each market?Group 1:units at a price ofGroup 2:units at a price ofc. Based solely on these two prices, which market has the higher price elasticity of demand?(Click to select)d. What will be this monopolist's total economic profit?< Prev3 of 50Next >MacBook Air

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Suppose that a price-discriminating monopolist has segregated its market into two groups of buyers as shown in the table below. a. Calculate the missing total-revenue and marginal-revenue amounts for Group 1. Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Group 1 Group 2 Quantity Demanded Total Revenue Marginal Revenue Quantity Demanded Price Total Marginal Revenue Price Revenue 2$ 115 100 1 83 71 3 71 2$ 63 4 63 1 63 $ 63 55 55 110 47 48 6 48 144 34 42 7 42 4. 168 24 37 8 37 5 185 17 33 33 6 198 13 29 10 29 7. 203 b. Assume that MC is $13 in both markets and MC = ATC at all output levels. What price will the firm charge in each market? Group 1: units at a price of Group 2: units at a price of

Suppose that a price-discriminating monopolist has segregated its market into two groups of buyers as shown in the table below. a. Calculate the missing total-revenue and marginal-revenue amounts for Group 1. Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Group 1 Group 2 Quantity Demanded Total Revenue Marginal Revenue Quantity Demanded Price Total Marginal Revenue Price Revenue 2$ 115 100 1 83 71 3 71 2$ 63 4 63 1 63 $ 63 55 55 110 47 48 6 48 144 34 42 7 42 4. 168 24 37 8 37 5 185 17 33 33 6 198 13 29 10 29 7. 203 b. Assume that MC is $13 in both markets and MC = ATC at all output levels. What price will the firm charge in each market? Group 1: units at a price of Group 2: units at a price of

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Figure A Q Figure B Figure C Price (dollars per unit) 15- Price (dollars per unit) 15 Price (dollars per unit) 15- 14- 13- 12- 11- 10- MC MC 14- 14- 13- 12- 11- 10- „MC ATC 13- 12- 11- 10- ATC ATC MR MR MR 9- 9- 9- 8- 8- 8- 7- 7- 6- 90 100 100 100 1i0 Quantity (units) 90 110 90 110 15 Qua Quantity (units) Quantity (units) Consider a perfectly competitive firm in a short-run equilibrium. Figure shows a firm in bad times because the firm produces units and makes a(n) O A. A; 100; economic loss O B. B; 90; economic profit O C. A; 110; economic loss O D. C; 100; economic loss O E. C; 100; normal profit
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