Microeconomics
11th Edition
ISBN: 9781260507041
Author: Colander, David
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 14.A, Problem 3QE
a)
To determine
The profit-maximizing level of price and output of the monopolist when the fixed cost is $102.
b)
To determine
The average cost of the monopolist.
c)
To determine
Total profit of the
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Students have asked these similar questions
A monopolist has a demand curve given by Q=100-P and a total cost curve given by TC= Q2 + 16.
a.Find the monopolist’s profit maximizing quantity and price. Indicate them on the graph.
b.How much economic profit will the monopolist earn?
c. Calculate the price elasticity of demand at the equilibrium price level.
A monopolist has a demand curve given by
Q=100-P and a total cost curve given by
TC= Q2 + 16.
a. Find the monopolist's profit maximizing
quantity and price. Indicate them on the
graph.
6. How much economic profit will the
monopolist earn?
Calculate the price elasticity of demand at
the equilibrium price level.
QUESTION 1
A. The total cost function for a monopolist is given by TC = 44,000 + 180Q + 0.03Q² and the demand
function is P = 420 – 0.06Q per unit of output.
i.
What is the profit maximising level of output?
ii.
Calculate the profit maximizing price.
iii.
Calculate total profit at the profit maximising level of output.
Chapter 14 Solutions
Microeconomics
Ch. 14.1 - Prob. 1QCh. 14.1 - Prob. 2QCh. 14.1 - Prob. 3QCh. 14.1 - Prob. 4QCh. 14.1 - Prob. 5QCh. 14.1 - Prob. 6QCh. 14.1 - Prob. 7QCh. 14.1 - Prob. 8QCh. 14.1 - Prob. 9QCh. 14.1 - Prob. 10Q
Ch. 14.A - Prob. 1QECh. 14.A - Prob. 2QECh. 14.A - Prob. 3QECh. 14.A - Prob. 4QECh. 14 - Prob. 1QECh. 14 - Prob. 2QECh. 14 - Prob. 3QECh. 14 - Prob. 4QECh. 14 - Prob. 5QECh. 14 - Prob. 6QECh. 14 - Prob. 7QECh. 14 - Prob. 8QECh. 14 - Prob. 9QECh. 14 - Prob. 10QECh. 14 - Prob. 11QECh. 14 - Prob. 12QECh. 14 - Prob. 13QECh. 14 - Prob. 14QECh. 14 - Prob. 15QECh. 14 - Prob. 16QECh. 14 - Prob. 17QECh. 14 - Prob. 18QECh. 14 - Prob. 19QECh. 14 - Prob. 20QECh. 14 - Prob. 21QECh. 14 - Prob. 22QECh. 14 - Prob. 23QECh. 14 - Prob. 24QECh. 14 - Prob. 25QECh. 14 - Prob. 1QAPCh. 14 - Prob. 2QAPCh. 14 - Prob. 3QAPCh. 14 - Prob. 4QAPCh. 14 - Prob. 5QAPCh. 14 - Prob. 6QAPCh. 14 - Prob. 7QAPCh. 14 - Prob. 1IPCh. 14 - Prob. 2IPCh. 14 - Prob. 3IPCh. 14 - Prob. 4IPCh. 14 - Prob. 5IPCh. 14 - Prob. 6IPCh. 14 - Prob. 7IPCh. 14 - Prob. 8IPCh. 14 - Prob. 9IP
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- Can this be answered and explained to me?arrow_forwardThe graph below shows the demand curve and cost data for a firm operating as a monopolist. In addition, Curve 4 shows average total costs (ATC). At the profit-maximizing (loss minimizing) quantity, the monopolist is experiencing a. profits b. losses c. break-even pointarrow_forwardi need solution in words not handwrittenarrow_forward
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