The following table gives total revenue and cost for a monopolist:QuantityPriceTotal RevenueTotal Cost10011851501301802901701754152224170520287165600367160655467155685587150685737If the market were competitive how much lower would the price of the good be?lowerWhat is the producer surplus of the monopolist?%24

Perfect competition is the market structure that is characterized by a large number of buyers and…

The following table gives total revenue and cost for a monopolist: Quantity Price Total Revenue Total Cost 100 185 150 130 180 290 170 175 415 222 170 520 287 15 165 600 367 6. 160 655 467 155 685 587 150 685 737 If the market were competitive how much lower would the price of the good be? lower What is the producer surplus of the monopolist? 49

The following table gives total revenue and cost for a monopolist: Quantity Price Total Revenue Total Cost 100 185 150 130 180 290 170 175 415 222 170 520 287 15 165 600 367 6. 160 655 467 155 685 587 150 685 737 If the market were competitive how much lower would the price of the good be? lower What is the producer surplus of the monopolist? 49

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A monopolist always produces a quantity at which the demand curve is elastic. Explain with a diagram and show the average and marginal cost for the monopolist.
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Question 33 Suppose a monopolist faces the demand curve P = 200 – 2Q, has marginal cost curve MC = 2Q, and zero fixed costs. If the monopolist can perfectly price discriminate, which of the following is true? The monopolist sells 33 units at a profit of 3300. The monopolist sells 33 units at a profit of 1650. The monopolist sells 50 units at a profit of 5000. The monopolist sells 50 units at a profit of 2500.
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QUESTION 1 A. The total cost function for a monopolist is given by TC = 44,000 + 180Q + 0.03Q² and the demand function is P = 420 – 0.06Q per unit of output. i. What is the profit maximising level of output? ii. Calculate the profit maximizing price. iii. Calculate total profit at the profit maximising level of output.
The table below shows cost data for producing different amounts of cleaning products. Suppose this market is a monopoly. Use the information in the table to find the output where the monopoly would maximize profit. Price ($) Quantity Total Revenue ($) Total Cost ($) 150 0 0 100 120 5 600 180 100 10 1000 400 90 15 1350 675 80 20 1600 1120 70 25 1750 1750 Profit maximizing quantity: What is the profit the monopoly achieved? $