Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Question
Chapter 13, Problem 11SQP
To determine
Problem associated with public subsidy.
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Students have asked these similar questions
Suppose we have a monopolist with the following:
D: Q=40-.5P
C: TC=50+10Q
What is the marginal cost?
What is the revenue function?
What is the marginal revenue?
What is the profit function (as a function of Q)?
What quantity maximizes the monopolists profit?
What price will the product be sold at?
What is the socially efficient quantity?
What is the socially efficient price?
All consumers are alike and each has an demand curve for a monopolist’s product of P=100-2Qd. The marginal cost of production is constant at MC = $10. Let the monopolist charge a price of $10 per unit purchased and a subscription fee of $2025 that must be paid by each purchaser. What is the amount of consumer’s surplus left over by this scheme?
Consider a monopolist with the following demand and cost function:
Demand: P = 200 -0.10
Cost: C = 50,000+20Q+0.025Q²
a. What is the profit maximizing quantity the firm should produce and
what is demand elasticity at that quantity?
b. What would be the socially efficient level of output and what per-unit
subsidy would the government have to give consumers so that the socially
efficient level of output is realized?
Chapter 13 Solutions
Micro Economics For Today
Ch. 13.2 - Prob. 1YTECh. 13.6 - Prob. 1.1YTECh. 13.6 - Prob. 1.2YTECh. 13 - Prob. 1SQPCh. 13 - Prob. 2SQPCh. 13 - Prob. 3SQPCh. 13 - Prob. 4SQPCh. 13 - Prob. 5SQPCh. 13 - Prob. 6SQPCh. 13 - Prob. 7SQP
Ch. 13 - Prob. 8SQPCh. 13 - Prob. 9SQPCh. 13 - Prob. 10SQPCh. 13 - Prob. 11SQPCh. 13 - Prob. 12SQPCh. 13 - Prob. 1SQCh. 13 - Prob. 2SQCh. 13 - Prob. 3SQCh. 13 - Prob. 4SQCh. 13 - Prob. 5SQCh. 13 - Prob. 6SQCh. 13 - Prob. 7SQCh. 13 - Prob. 8SQCh. 13 - Prob. 9SQCh. 13 - Prob. 10SQCh. 13 - Prob. 11SQCh. 13 - Prob. 12SQCh. 13 - Prob. 13SQCh. 13 - Prob. 14SQCh. 13 - Prob. 15SQCh. 13 - Prob. 16SQCh. 13 - Prob. 17SQCh. 13 - Prob. 18SQCh. 13 - Prob. 19SQCh. 13 - Prob. 20SQ
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