Homework Answers
A monopoly firm maximizes the profit where the marginal revenue of the firm equals the marginal cost, and if the average total lies above the demand curve the firm incurring a loss and if the average total cost lies below the demand curve the firm is earning a positive economic profit. And the corrected graph is shown below.
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The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1-3 below to identify the monopoly's profits...
find where e point, the atc curve, and the profit square is supposed to be Question...
find where e point, the atc curve, and the profit square is
supposed to be
Question 8 of 12 > The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1-3 below to identify the monopoly's profits, 1. Place point E at the monopoly's profit maximizing price and quantity. 2. Move the average total cost (ATC) curve to a position that depicts the monopoly earning a positive profit. 3. Place the area labeled Profit in the area of the graph that...
The graph shows the demand curve for cable television. Assume that monopoly conditions apply. Demand What...
The graph shows the demand curve for cable television. Assume that monopoly conditions apply. Demand What is the firm's total revenue when selling cable television to 6 houses? 13 12 Price ($) - - total revenue: $ 6 5 What is the firm's marginal revenue from selling cable television to the 13th house? - 0 5 6 12 13 marginal revenue: $ Quantity (houses) The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1–3 below to identify the monopoly's profits....
a) b) c) The graph below depicts an industry that has been monopolized. 120 110 S...
a)
b)
c)
The graph below depicts an industry that has been monopolized. 120 110 S 100 90 80 PRICE ($) 70 60 50 — 40 30 20 D MR 1 1 - - - 20 30 50 60 70 40 OUTPUT If this market is in equilibrium, the price = and output = Is there any deadweight loss? (yes or no) If a monopoly raised the price to $80, the approximate output be . At this new price, would...
The accompanying graph represents a hypothctica natural monopoly a. Place point A at the price and...
The accompanying graph represents a hypothctica natural monopoly a. Place point A at the price and quantity where the firm will maximize profits b. Place point B at the point of cost-plus regulation when the firm makes no profit Natural Monopoly 10 MC c. What price would the monopolist set without any market intervention? Round to the nearest dollar 4 AT S32 d. At this price, how much profit would the monopolist make? Round to the nearest dollar 1R 0...
50 A MC The accompanying graph depicts average total cost (ATC), marginal cost (MC), marginal revenue...
50 A MC The accompanying graph depicts average total cost (ATC), marginal cost (MC), marginal revenue (M), and demand (D) facing a monopolistically competitive firm. Place point A at the firm's profit maximizing price and quantity. What is the firm's total cost? 45 40 35 30 ATC Price and Cost ($) 25 total cost: $ 20 D 15 10 What is the firm's total revenue? 5 MR 0 total revenue: $ 0 5 10 15 20 25 30 35 40...
Please graph clearly with labels!!! Thank you! Tennessee Subway Corporation is a natural monopoly. The graph...
Please graph clearly with labels!!! Thank
you!
Tennessee Subway Corporation is a natural monopoly. The graph shows the market demand curve and the firm's marginal cost curve. The monopoly is unregulated and maximizes profit. Price and cost (dollars per month) Draw the firm's marginal revenue curve. Label it MR. Draw a point at the profit-maximizing price and quantity. Label it 1 The monopoly makes a positive economic profit. Draw the firm's average total cost curve. Label it ATC. Draw a...
The following graph depicts the market situation for a monopoly pastry shop called Bcarclaws. 22 20...
The following graph depicts the market situation for a monopoly pastry shop called Bcarclaws. 22 20 MC 18 16 14 ATC PRICE 10 a 6 4 MR 2 20 100 120 140 40 60 80 QUANTITY Refer to Figure 15-5. Based upon the information shown, what are total costs for Bearclaws, given that it maximizes profits? a. $980. b. S700. c. $490. d. S784.
Open the interactive monopoly interactive and use it to answer the four questions. Assume that the...
Open the interactive monopoly interactive and use it to answer the four questions. Assume that the monopoly rationally acts to maximize profits, and please specify all answers to one decimal place. Hit the reset button of the interactive. What is this monopoly's total cost? total cost $ What is this monopoly's profit? profit: $ If this monopoly has no fixed cost, what is its total cost? To find out, set the fixed cost slider to $0. total cost: 5 What...
Price/Cost ($) 7) Monopoly II (6 points) The marginal costs (MC), average variable costs (AVC), and...
Price/Cost ($) 7) Monopoly II (6 points) The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly are shown in the figure below. The figure also shows the demand curve (D) and the marginal revenue curve (MR) for this market. 501 ATC AVC a. What is the firm's profit-maximizing level of output? Label this on the graph. b. What price will the monopolist charge for that level of output? Label this on the graph....
Question 29 12 pts Below is the graph of a monopoly firm. Use the graph to...
Question 29 12 pts Below is the graph of a monopoly firm. Use the graph to answer the following Questions. 110 100 90 - 1 N 80 70 60 COST 50 - 40 30 20 10 D MR - 1 60 25 35 55 45 50 OUTPUT Curve 1 should be labeled Curve 2 should be labeled Firms maximize profit where The profit maximizing price for the firm is while the profit maximizing output for the firm is (approximations are...
find where e point, the atc curve, and the profit square is
supposed to be
Question 8 of 12 > The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1-3 below to identify the monopoly's profits, 1. Place point E at the monopoly's profit maximizing price and quantity. 2. Move the average total cost (ATC) curve to a position that depicts the monopoly earning a positive profit. 3. Place the area labeled Profit in the area of the graph that...
The graph shows the demand curve for cable television. Assume that monopoly conditions apply. Demand What is the firm's total revenue when selling cable television to 6 houses? 13 12 Price ($) - - total revenue: $ 6 5 What is the firm's marginal revenue from selling cable television to the 13th house? - 0 5 6 12 13 marginal revenue: $ Quantity (houses) The accompanying graph depicts a hypothetical monopoly. Follow instuctions 1–3 below to identify the monopoly's profits....
a)
b)
c)
The graph below depicts an industry that has been monopolized. 120 110 S 100 90 80 PRICE ($) 70 60 50 — 40 30 20 D MR 1 1 - - - 20 30 50 60 70 40 OUTPUT If this market is in equilibrium, the price = and output = Is there any deadweight loss? (yes or no) If a monopoly raised the price to $80, the approximate output be . At this new price, would...
The accompanying graph represents a hypothctica natural monopoly a. Place point A at the price and quantity where the firm will maximize profits b. Place point B at the point of cost-plus regulation when the firm makes no profit Natural Monopoly 10 MC c. What price would the monopolist set without any market intervention? Round to the nearest dollar 4 AT S32 d. At this price, how much profit would the monopolist make? Round to the nearest dollar 1R 0...
50 A MC The accompanying graph depicts average total cost (ATC), marginal cost (MC), marginal revenue (M), and demand (D) facing a monopolistically competitive firm. Place point A at the firm's profit maximizing price and quantity. What is the firm's total cost? 45 40 35 30 ATC Price and Cost ($) 25 total cost: $ 20 D 15 10 What is the firm's total revenue? 5 MR 0 total revenue: $ 0 5 10 15 20 25 30 35 40...
Please graph clearly with labels!!! Thank
you!
Tennessee Subway Corporation is a natural monopoly. The graph shows the market demand curve and the firm's marginal cost curve. The monopoly is unregulated and maximizes profit. Price and cost (dollars per month) Draw the firm's marginal revenue curve. Label it MR. Draw a point at the profit-maximizing price and quantity. Label it 1 The monopoly makes a positive economic profit. Draw the firm's average total cost curve. Label it ATC. Draw a...
The following graph depicts the market situation for a monopoly pastry shop called Bcarclaws. 22 20 MC 18 16 14 ATC PRICE 10 a 6 4 MR 2 20 100 120 140 40 60 80 QUANTITY Refer to Figure 15-5. Based upon the information shown, what are total costs for Bearclaws, given that it maximizes profits? a. $980. b. S700. c. $490. d. S784.
Open the interactive monopoly interactive and use it to answer the four questions. Assume that the monopoly rationally acts to maximize profits, and please specify all answers to one decimal place. Hit the reset button of the interactive. What is this monopoly's total cost? total cost $ What is this monopoly's profit? profit: $ If this monopoly has no fixed cost, what is its total cost? To find out, set the fixed cost slider to $0. total cost: 5 What...
Price/Cost ($) 7) Monopoly II (6 points) The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly are shown in the figure below. The figure also shows the demand curve (D) and the marginal revenue curve (MR) for this market. 501 ATC AVC a. What is the firm's profit-maximizing level of output? Label this on the graph. b. What price will the monopolist charge for that level of output? Label this on the graph....
Question 29 12 pts Below is the graph of a monopoly firm. Use the graph to answer the following Questions. 110 100 90 - 1 N 80 70 60 COST 50 - 40 30 20 10 D MR - 1 60 25 35 55 45 50 OUTPUT Curve 1 should be labeled Curve 2 should be labeled Firms maximize profit where The profit maximizing price for the firm is while the profit maximizing output for the firm is (approximations are...
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