The table shows the total revenue of the 50 firms in the tattoo industry. Total revenue Calculate the four-firm concentration ratio and the HHI. Firm (dollars) 1,450 Bright Spots Freckles >>> Answer to 2 decimal places. 1,300 What is the market structure of the tattoo industry? Love Galore 800 Native Birds 650 The four-firm concentration ratio equals| Next 10 firms (each) Next 16 firms (each) Next 20 firms (each) Industry 200 150 The HHI equals 125 The four-firm concentration ratio indicates that the market is and the Herfindahl-Hirschman Index 11,100 indicates that the market is (Assume there are no reasons that would make the concentration measures unreliable guides.) O A. monopolistic competition; a monopoly O B. probably not monopolistic competition; monopolistic competition OC. monopolistic competition; monopolistic competition O D. a monopoly; monopolistic competition O E. a monopoly; a monopoly

The table shows the total revenue of the 50 firms in the tattoo industry. Total revenue Calculate the four-firm concentration ratio and the HHI. Firm (dollars) 1,450 Bright Spots Freckles >>> Answer to 2 decimal places. 1,300 What is the market structure of the tattoo industry? Love Galore 800 Native Birds 650 The four-firm concentration ratio equals| Next 10 firms (each) Next 16 firms (each) Next 20 firms (each) Industry 200 150 The HHI equals 125 The four-firm concentration ratio indicates that the market is and the Herfindahl-Hirschman Index 11,100 indicates that the market is (Assume there are no reasons that would make the concentration measures unreliable guides.) O A. monopolistic competition; a monopoly O B. probably not monopolistic competition; monopolistic competition OC. monopolistic competition; monopolistic competition O D. a monopoly; monopolistic competition O E. a monopoly; a monopoly

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Sol-Motors is the only auto manufacturer in West Lidia, a country that prohibits the importation of cars. The graph below shows the demand and the costs for Sol-Motors. Costs and revenues (in thousands) 130 120 110 100 90 80 70 60 50 40 30 20 10 0 Price: $ 15. 45 75 9010512013550165180195 30 60 Quantity per period (in thousands) MC D thousands a. Add the marginal revenue curve to the graph above (starting at zero). Plot only the end points. b. What are Sol-Motors' profit-maximizing output and price? Output: thousands Tools MR K c. Suppose that the government of Lidia imposes a price ceiling of $35,000 per car. What is the firm's profit-maximizing output now? Profit-maximizing output: thousands d. What would be the output if the graph represented a perfectly competitive industry rather than a monopoly? Output: thousands
1. Some people say that if there is a monopoly producer they can charge any price they want and the buyers have no choice but to buy the product at that price. Explain if that is true by considering a monopoly airline. 2. When you go to your dentist, she charges you the full price for your clean and shine but the dentist charges your grandmother (a senior citizen) a 20 percent discounted price for the same service. Explain why the dentist is able to make the price discrimination work. 3. Even though everyone values clean air and wishes to breathe clean air, environmentalists and a large number of city dwellers would say that Canadian cities have excessive air pollution. Explain why, if left to the free-market system, the problem of excessive air pollution would not be solved? Name another problem that would not be solved, if left to the free-market system. Suppose someone makes the following statement in support of introducing barriers to trade for importing men’s clothing…
17 of 16 BNW is one of many producers of luxury wheelchairs, which are differentiated to appeal to different market niches. BNW's Price per chair relevant demand and cost curves are depicted in the graph. $2,000 Average total Use this graph to answer the questions. Assume that there are 1,800 Marginal cost no significant barriers to entry. cost 1,600 Determine BNW's profit-maximizing price and quantity. 1,400 1,200 1,000 price per chair: $ 800 600 400 quantity of chairs: chairs 200 Demand Marginal revenue 100 200 300 400 500 600 700 800 900 Calculate BNW's profit. Chairs per week BNW's profit: $
The table shows the total revenue of the 50 firms in the roofing industry. Total revenue Calculate the four-firm concentration ratio and the HHI. Firm (dollars) >>> Answer to 2 decimal places. Roofmart 740 Shingles R Us Weather Guard 400 What is the market structure of the roofing industry? 300 Dry on Top Next 10 firms (each) Next 16 firms (each) 100 The four-firm concentration ratio equals 90 60 The HHI equals Next 20 firms (each) 50 The four-firm concentration ratio indicates that the market is Industry 4,400 and the - (Assume there are no reasons that would make the concentration measures unreliable Herfindahl-Hirschman Index indicates that the market is guides.) O A. a monopoly; a monopoly O B. monopolistic competition; monopolistic competition OC. probably not monopolistic competition; monopolistic competition D. mononolistic competition: a mononolv
6. A-One bakery in Brampton sells 350 fruit cakes slices each month for $3.25 each. They are looking for help to come up with a strategy to increase revenue. A student from our school who works their part time conducts a survey. The results of the survey indicate that sales of the fruit cake slices would increase by 80 per month for each $0.10 decrease in price. c. Determine the marginal revenue from the sales of 200 slices of fruit cake. d. The cost of producing x fruit cake slices is C(x) = -0.0005x² + 1.5x + 300. Determine the marginal cost of producing 200 fruit cake slices.
(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.
Mm.8. Subject:- economic
Consider the daily demand for pizza at a local Italian restaurant, provided in the table below. The number of pizzas demanded at various prices in the table is also illustrated in the graph to the right. First, calculate the marginal revenue for selling pizza in the table. (Enter numeric responses using integers.) Quantity Price Total Revenue Marginal Revenue 0 $18 17 2 16 3 4 14 56 13 1724552 65432 0 32 56 65 Use the line drawing tool to graph the marginal revenue curve in the figure. Properly label this line. Carefully follow the instructions above, and only draw the required objects. Price (dollars per pizza) 20- 18- 16- 14 12- D 10- 8- 6- 4 2- 0+ 0 1 2 3 4 Quantity of Pizzas 5 6
Don't answer by pen paper and don't use chatgpt otherwise we will give dounvote
e table below shows levels of employment (Labor), the marginal product at each of those levels, and a monopoly's marginal revenue. Labor Marginal Product of Labor Marginal Revenue ($) Marginal Revenue Product ($) 1 24 0.80 2 20 0.75 3 16 0.70 4 12 0.67 5 8 0.65 6 4 0.64 Fill in the final column of the table by calculating the value of the marginal revenue product. If the monopoly operates in a perfectly competitive labor market where the going market wage is $11.20, what is the firm's profit maximizing level of employment in terms of quantity of Labor? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Explain why it is not possible for a monopoly firm to maximise its profits by charging a price in the price region where demand is inelastic, even though there are no direct substitutes for its product. Also explain how a monopoly will be able to charge a higher price than a firm producing the good under perfect, oligopolistic, or monopolistic competition
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