The table shows the demand schedule of a monopolist. Calculate marginal revenue, and fill in the revenue column in the tablAssume that output can only be sold in integer amounts (i.c.. I unit, 2 units, etc.). Once you have filled in the columns formarginal revenue, identify the quantity produced by the monopolist in this market.MR,MR3QuantityPriceMarginal Cust$13$3Marginal RevenueMR2$12$4MR3$11$5MR4$10$6MR.5$9$7MR56$8$8MR6MR2:MR

Answered: The table shows the demand schedule of…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter13: Monopoly And Antitrust

Section: Chapter Questions

Problem 13P

See similar textbooks

Similar questions

Jonny and Chen Brad Baxter have just made a documentary movie about their basketball team. They are thinking about making the movie available for download on the Internet, and they can act as a single-price monopolist if they choose to. Each time the movie is downloaded, their Internet service provider charges them a fee of $4. They are now arguing about which price to charge customers per download. The accompanying table shows the demand schedule for their film. Quantity of download demanded Price per download $10 8 3 4 6 2 10 15 d. They want to maximize profit. Which price would he choose? How many downloads would be sold?
Elixir Springs, Inc., is an unregulated European natural monopoly that bottles Elixir, a unique health product with no substitutes. The total fixed cost incurred by Elixir Springs is €150,000,€150,000, and its marginal cost is 10 cents a bottle. The figure illustrates the demand for Elixir.a What is the price of a bottle of Elixir?b How many bottles does Elixir Springs sell?c Does Elixir Springs maximize total surplus or producer surplus?
Jonny and Chen Brad Baxter have just made a documentary movie about their basketball team. They are thinking about making the movie available for download on the Internet, and they can act as a single- price monopolist if they choose to. Each time the movie is downloaded ,their Internet service provider charges them a fee of $4. They are now arguing about which price to charge customers per download. The accompanying table shows the demand schedule for their film. Price per download Quantity of download demanded $10 8 1 3 4 10 15 a. Calculate the total revenue and the marginal revenue per download. b. They are proud of the film and wants as many people as possible to download it. Which price would they choose? How many downloads would be sold? c. They want as much total revenue as possible. Which price would he choose? How many downloads would be sold?
Which of the following ways can monopolise be formed?
A movie production company is planning to make its new movie available online so that it can enjoy monopoly power. Each time the movie is downloaded the production company has to pay 4 taka to the internet service provider. Now it is deciding what price to charge for each download. The numbers below shows the demand schedule for the company, Price per download dollar - 10, 8, 6, 4, 2, 0. Quantity of downloads demands 0, 1, 3, 6, 10, 15. a) Calculate the total revenue and marginal revenue per download. b) To maximize profit what price should be charged and how many downloads would need to be sold?
Question 5: Jimmy has a room that overlooks, from some distance, a major league baseball stadium. He decides to rent a telescope for $50 a week and charge his friends and classmates to use it to peep at the game for 30 seconds. He can act as a monopolist for renting out "peeps". For each person who takes a 30 second peep, it costs Jimmy $.20 to clean the eyepiece. Jimmy believes he has the following demand for his service: Price of a Peep $1.20 Quantity of peeps demanded 1.00 90 100 150 200 250 300 70 60 50 350 40 30 400 450 20 10 500 550 a) For each price, calculate the total revenue from selling peeps and themarginal revenue per peep. Price Quantity TR MR $1.20 100 90 100 150 200 70 250 60 300 350 50 40 30 400 450 20 500 10 550 b) At what quantity will Jimmy's profit be maximized? What price will he charge? What will his total profit be? c) Jimmy's landlady complains about all the visitors coming into the building and tells Jimmy to stop selling peeps. Jimmy discovers, though, if he…
Graph shows the cost and revenue Information for Shitotsu the monopolist. What are the levels of price, output, total (sales) revenue, and total profits if the monopolist were to produce at the positions (a) through (d) indicated in table below? Costs and revenues 40 36 32 28 24 20 16 12 8 4 0 5 10 15 20 25 30 35 Quantity per period a. Total revenue maximization b. Profit-maximization c. Socially optimum price d. Fair-return price MR D=AR MC AC Price ($) 16 G 15 141 Output 20 20 22.5 Total Revenue ($) 320 300 315 Total Profits ($) 120 180
Answer plzz...
Solve within one hour for upvote
(c) A discriminating monopolist is faced with the following price elasticities: e1-0.75 and What pricing policy should the monopolist adopt in the two markets? In which market will it be profitable for the monopolist to operate? Assume now that er ez 0.50, will it be advisable for the monopolist to discriminate or operate a single market? run. Briefly explain why the monopolist has no unique supply curve in the short Unlike the competitive firm, the monopoly firm can make supernormal profit in the long run. Explain why. e-1.50 i. ii. iii. iv. V.
O Macmillan Learning Suppose that a small-town theater has six potential customers and is looking to implement price discrimination depending on when customers want to attend. Suppose the marginal cost of serving an additional customer is $1.50. The data provide information about the time of attendance and willingness to pay for a ticket. Customer Maximum willingness to pay Time of attendance Brandon $2 matinee Tyler $30 evening Austin $15 evening Alexis $6 matinee Ashley $20 evening Emily $14 matinee What should the theater charge for evening tickets? What should the theater charge for matinee tickets? $
2. The market for dark chocolate us characterized by Cournot duopolists - Honeydukes and Wonka industries. The market demand for dark chocolate is:P = 8 - 0.005Qdwhere P is the price per bar in dollars and Qd is dark chocolate's daily quantity demanded in bars (use qh to represent the quantity of dark chocolate sold by Honeydukes and qw to represent the quantity of dark chocolate sold by Wonka Industries). Honeydukes has a constant marginal cost of $2.50 per bar, while Wonka Industries has a constant marginal cost of $3.00 per bar. The firms move simultaneously in choosing their profit-maximizing quantity of output.a. Given the firms move simultaneously, what is the equation for Honeydukes' reaction function with qh expressed as a function of qw?b. Given the firms move simultaneously, what is the equation for Wonka's reaction function with qw expressed as a function of qh?c. What quantity of dark chocolate will each firm produce in equilibrium and what price will be established for a…

SEE MORE QUESTIONS

Recommended textbooks for you

Exploring Economics

Economics

ISBN:

9781544336329

Author:

Robert L. Sexton

Publisher:

SAGE Publications, Inc

Principles of Microeconomics

Economics

ISBN:

9781305156050

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Exploring Economics

Economics

ISBN:

9781544336329

Author:

Robert L. Sexton

Publisher:

SAGE Publications, Inc

Principles of Microeconomics

Economics

ISBN:

9781305156050

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Principles of Economics 2e

Economics

ISBN:

9781947172364

Author:

Steven A. Greenlaw; David Shapiro

Publisher:

OpenStax

Economics (MindTap Course List)

Economics

ISBN:

9781337617383

Author:

Roger A. Arnold

Publisher:

Cengage Learning

Microeconomics

Economics

ISBN:

9781337617406

Author:

Roger A. Arnold

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS