The table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the tableAssume that output can only be sold in integer amounts (i.e., 1 unit, 2 units, etc.). Once you have filled in marginal revenueidentify the quantity produced by the monopolist in this marketNot all numbers in the answer bank will be used.Quantity PriceMarginal revenueMarginal costAnswer Bank1$132$2$12$6$8$4$13$11$3$10$9$7$54$10$4$3$2$12$5$96$8$6How many units does the monopolist produce?units

Monopoly Market: This is a market in which a single firm has control over the largest market share,…

Answered: The table shows the demand schedule of…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter23: Monopoly

Section23.3: Perfect Competition And Monopoly

Problem 4ST

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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?
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…
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?
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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 $10 8 1 3 4 10 15 a. Calculate the total revenue and the marginal revenue per download. b. They are proud of the film and wants as many people as possible to download it. Which price would they choose? How many downloads would be sold? c. They want as much total revenue as possible. Which price would he choose? How many downloads would be sold?
Graph shows the cost and revenue Information for Shitotsu the monopolist. What are the levels of price, output, total (sales) revenue, and total profits if the monopolist were to produce at the positions (a) through (d) indicated in table below? Costs and revenues 40 36 32 28 24 20 16 12 8 4 0 5 10 15 20 25 30 35 Quantity per period a. Total revenue maximization b. Profit-maximization c. Socially optimum price d. Fair-return price MR D=AR MC AC Price ($) 16 G 15 141 Output 20 20 22.5 Total Revenue ($) 320 300 315 Total Profits ($) 120 180
O OO The above graph shows the market demand function for a product. Assume that the market is served by a perfectly-price-discriminating monopolist with a constant marginal cost of production equal to $4 (MC = $4) and no fixed cost (FC = 0). The deadweight loss equals: DWL - $72 DWL - $0 DWL- -$48 DWL - $84 DWL-$36 $30 $28 $26 $24 $22 $20 Question 23 $18 $16 $14 $12 $10 $8 $6 $4 $2 $0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
The table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the table. Assume that output can only be sold in integer amounts (i.e., 11 unit, 22 units, etc.). Once you have filled in marginal revenue, identify the quantity produced by the monopolist in this market. Quantity Price Marginal Marginal Cost Revenue 1 $13 $3 MR1 2 $12 $4 MR2 3 $11 $5 MR3 4 $10 $6 MR4 $9 $7 MR5 6. $8 $8 MR6 How many units does the monopolist produce? Quantity:
Answer plzz...
An art museum is trying to determine what they should charge for admission. The fixed cost of operations per day are $6,000 and the additional cost of admitting an extra person into the museum is zero. Price 10 8 642 Quantity of Adults 50 100 200 1 280 400 Quantity of Children 0 0 50 100 250 The table above shows the quantity of tickets sold at different price points. If the museum CAN price discriminate they should charge Select adult tickets and Select for children's tickets. If they CANNOT price discriminate they should charge Select tickets. ✓ for for
E4 How much extra profit does the monopolist earn when he increases the price from $12 to $18

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