Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 23, Problem 2WNG
To determine
The economic profit of
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The inverse demand curve a monopoly faces is
p = 130 - Q.
The firm's cost curve is
C(Q) = 10 +5Q.
What is the profit-maximizing solution?
The profit-maximizing quantity is 62.5. (Round your answer to two decimal places.)
The profit-maximizing price is $ 67.5. (round your answer to two decimal places.)
What is the firm's economic profit?
The firm earns a profit of $. (round your answer to two decimal places.)
The inverse demand curve a monopoly faces is
p= 110 -Q.
The firm's cost curve is
C(Q) = 30 + 5Q.
What is the profit-maximizing solution?
The profit-maximizing quantity is 52.50. (Round your answer to two decimal places.)
The profit-maximizing price is $ 57.50 . (round your answer to two decimal places.)
What is the firm's economic profit?
The firm earns a profit of $. (round your answer to two decimal places.)
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The inverse demand curve a monopoly faces is
p=120-2Q.
The firm's cost curve is
C(Q) = 40 +6Q.
What is the profit-maximizing solution?
The profit-maximizing quantity is 28.50. (Round your answer to two decimal places.)
The profit-maximizing price is $63.00. (round your answer to two decimal places.)
What is the firm's economic profit?
The firm earns a profit of $ 1584.50. (round your answer to two decimal places.)
How does your answer change if C(Q)= 100+6Q? The increase in fixed cost
OA. has no effect on the equilibrium quantity, but the equilibrium price increases and profit decreases.
B. causes the firm to increase both the price and quantity, and profit increases.
OC. has no effect on the equilibrium quantity, but the equilibrium price increases and profit increases.
D. has no effect on the equilibrium price and quantity, but profit will decrease.
Chapter 23 Solutions
Economics (MindTap Course List)
Ch. 23.1 - Prob. 1STCh. 23.1 - Prob. 2STCh. 23.1 - Prob. 3STCh. 23.3 - Prob. 1STCh. 23.3 - Prob. 2STCh. 23.3 - Prob. 3STCh. 23.3 - Prob. 4STCh. 23.5 - Prob. 1STCh. 23.5 - Prob. 2STCh. 23.5 - Prob. 3ST
Ch. 23 - Prob. 1QPCh. 23 - Prob. 2QPCh. 23 - Prob. 3QPCh. 23 - Is there a deadweight loss if a firm produces the...Ch. 23 - Prob. 5QPCh. 23 - Prob. 6QPCh. 23 - Prob. 7QPCh. 23 - Prob. 8QPCh. 23 - Prob. 9QPCh. 23 - Prob. 10QPCh. 23 - Prob. 11QPCh. 23 - Prob. 12QPCh. 23 - Prob. 13QPCh. 23 - Prob. 14QPCh. 23 - Prob. 1WNGCh. 23 - Prob. 2WNGCh. 23 - Prob. 3WNGCh. 23 - Prob. 4WNGCh. 23 - Prob. 5WNGCh. 23 - Prob. 6WNG
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