The table below presents the demand schedule and marginal costs facing a monopolist producer. a. Fill in the total revenue and marginal revenue columns. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Leave no cells blank. Enter 0 if appropriate. MC ($) Q 0 1 2 3 4 5 6 7 S 8 P ($) 11 10 9 8 7 6 5 4 3 TR ($) 0 T MR ($) b. What is the profit-maximizing level of output? units c. What price will the monopolist charge to maximize profits? 1 2 3 4 5 6 7 8

The table below presents the demand schedule and marginal costs facing a monopolist producer. a. Fill in the total revenue and marginal revenue columns. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Leave no cells blank. Enter 0 if appropriate. MC ($) Q 0 1 2 3 4 5 6 7 S 8 P ($) 11 10 9 8 7 6 5 4 3 TR ($) 0 T MR ($) b. What is the profit-maximizing level of output? units c. What price will the monopolist charge to maximize profits? 1 2 3 4 5 6 7 8

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If this is a market for a monopolistically competitive firm selling hair products. Choose all that apply. A It will lose $20 per day if it stays in the market B It will charge a price of $4 C If it stays in the market, there will still be a dead weight loss D Its profit maximizing quantity is 30 units
The table below presents the demand schedule and marginal costs facing a monopolist producer. MC ($) P ($) TR ($) MR ($) 0 10.05 Q e 1 2 3 4 5 6 7 8 9 10 9.05 8.05 7.85 6.05 5.05 4.05 3.05 2.05 1.05 0 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 a. Fill in the total revenue and marginal revenue columns. Instructions: Round your answers to two decimal places and include a negative sign if appropriate. Leave no cells ank. Enter O if appropriate. b. What is the profit-maximizing level of output? Instructions: Round your answers to the nearest whole number. units. c. What price will the monopolist charge for the quantity in part b? Instructions: Round your answers to the nearest whole number. per unit.
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Multiple Choice pervey $10 for its product. $12 for its product $16 for its product. $8 for its product.
Q (units) 0 1 2 NMT 3 4 5 P ($) 50 45 40 35 30 25 TC ($) 10 $105 none of the above 26 42 58 74 90 If the monopolist maximizes profit, then profit will be O($44) O $47
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