Principles of Microeconomics, California Edition
Principles of Microeconomics, California Edition
2nd Edition
ISBN: 9780393622102
Author: Dirk Mateer, Lee Coppock
Publisher: NORTON
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Chapter 3.A, Problem 1QR
To determine

Impact of change in supply and demand at the same time on price.

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Suppose that a Monopolist has no fixed costs and a fixed Marginal Cost equal to $4 per unit. This monopolist also faces the demand: Q = 28-p 5. [3 points] If this monopolist is a single-price monopolist, then what price would it charge and what Quantity would it produce? What would be the Consumer Surplus (CS), Producer Surplus (PS), and Total Surplus (TS) in the single-price case? Now suppose that this firm can first-degree price discriminate. 6. [2 points] What would be the Consumer Surplus (CS), Producer Surplus (PS), and Total Surplus (TS) in the case where this monopolist can first-degree price discriminate? Now suppose that this firm cannot first-degree price discriminate, but can instead second-degree price discriminate. Now suppose that this monopolist offers the menu of: 12 units for p = $16 • 18 units for p = $10 7. [2 points] Will the above make consumers better off? Will it make firms better off? Now suppose that this monopolist continues to second-degree price…
If the Bank of Canada wants to increase the money supply, it can:a) Lower the target for the overnight interest rateb) Raise the target for the overnight interest ratec) Buy government bonds through open-market operationsd) Sell government bonds through open-market operationse) Both a) and c)
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