The table below shows the marginal revenue and costs for a monopolist.Demand, Costs, and RevenuesPrice(dollars)QuantityDemanded$1302001203001104001005009060080700$50,000O $80,000$10,000Marginal Revenue Marginal Cost Average Total Cost(dollars)(dollars)(dollars)$110$25$139.0032103.304087.505080.006277.007777.00What is the monopolist's profit at the profit-maximizing level of output?O $09070503010

Profit maximization for a monopoly means calculating the quantity to produce where marginal cost…

The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Quantity Price (dollars) Demanded $130 200 300 400 500 600 700 120 110 100 90 80 Marginal Revenue (dollars) $110 90 70 50 30 10 $50,000 $80,000 O $10,000 O $0 Marginal Cost Average Total Cost (dollars) (dollars) $25 $139.00 32 103.30 40 87.50 50 80.00 62 77.00 77 77.00 What is the monopolist's profit at the profit-maximizing level of output?

The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Quantity Price (dollars) Demanded $130 200 300 400 500 600 700 120 110 100 90 80 Marginal Revenue (dollars) $110 90 70 50 30 10 $50,000 $80,000 O $10,000 O $0 Marginal Cost Average Total Cost (dollars) (dollars) $25 $139.00 32 103.30 40 87.50 50 80.00 62 77.00 77 77.00 What is the monopolist's profit at the profit-maximizing level of output?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The figure shows the demand curve faced by a monopolist. What is the price effect of a price increase from $3 to $5? OA. $800 OB. $400 OC. $1,000 OD. $200 C Price (5) 10 9 8 17 6 3 2 1 0 100 200 300 400 500 600 700 800 900 Quantity (units)
Exhibit 10-4 $/0 MC ATC 24 /t 10 The non-discriminating monopolist in Exhibit 10-4 should: O Produce 10 units at a price of $36 per unit. O Produce 10 units at a price of $24 per unit. O Produce 10 units at a price of $40 per unit. O Produce 15 units at a price of $32 per unit. O We cannot determine what the firm should do without knowing its average variable cost.
If the monopolist shown in the following figure could practice first-degree price discrimination, the consumer surplus would be: Price (dollars) 50 40 30 20 10 0 O $450.00 $900.00 $0.00 $225.00 O $1,200.00 30 50 60 MR 100 MC Quantity
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QUESTION 12 The table below shows a monopolist's demand curve and the cost information for the production of its good. What will their profits equal? Quantity Price per UnitTotal Cost 10 $100 20 $80 $60 $40 $20 O 30 40 50 a. $600 O b. $1,200 O c. $1,600 O d. $1,000 $100 $400 $800 $1,400 $2,400
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Suppose that Jana's Financial Consulting Company is a perfectly price discriminating monopolist with the following cost and revenue information: 0 1 2 Quantity Total Cost Marginal Cost Price Total Revenue Marginal Revenue $100 $170 $140 $160 $184 $150 $230 $140 $280 $130 $335 $120 $395 $110 $475 $100 $575 $95 min 00 6 7
Cost & Figure 15 Revenue $10 per unit MC $9 $8 АТС $7 $6 $5 $4 $3 $2 $1 MR 2 3 4 7 8 10 Quantity (in thousands) Refer to the above Figure 15 which shows cost curves, a marginal revenue (MR) curve and a demand curve faced by a monopolist. If this monopolist is profit maximizing and does not price discriminate, it will produce ( Select ] v units of output and charge a price of [ Select ] per unit. Given its cost curves, we can tell that this monopolist is currently earning [ Select ] economic profit. According to the classical welfare economics, the socially efficient quantity to be produced in this market would be [ Select ] units of output and a socially efficient price would be [Select ] per unit.
Quèstion 23 A monopolist maximizes profits by O charging a price where marginal cost equals average total cost O charging a price equal to marginal revenue and marginal cost O producing an output level where marginal revenue equals marginal cost Both a and b are correct
Q44 and 45
44 Output Total Total Total Marginal Marginal (Q) Price Revenue Cost Profit Revenue Cost E of 20 $25.00 $500 $650 $15 $5 40 $20.00 $800 $750 $5 60 $15.00 $900 $950 $15 80 $10.00 $800 $1,250 The table above shows revenue and cost information at four different Output (Q) levels for a Monopolist. Of the four available choices, Total Profit will be the greatest at Q = Select one: а. 80 b. 40 C. 60 d. 20