Please show all your work. Your firm has total costs equal to 40Q1.. The demand you...
Please show all your work.
Your firm has total costs equal to 40Q1.. The demand you face is P=4000-5Q.
Now your firm has a rival firm, with total costs equal to 40Q2. You both play Cournot. What is your output and profits? What is the deadweight loss?
Homework Answers
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Please show all your work.
Your firm has total costs equal to 40Q1.. The demand
you...
Please show all your work. Your firm has total costs equal to 40Q1. The demand you...
Please show all your work. Your firm has total costs equal to 40Q1. The demand you face is P=4000-5Q. Now your firm has a rival firm, with total costs equal to 40Q2. Now there is a third firm, with total costs equal to 40Q3. All three firms play Cournot. What is your output and profits? What is the deadweight loss?
Please show all your work. Your firm has total costs equal to 40Q1. The demand you...
Please show all your work. Your firm has total costs equal to 40Q1. The demand you face is P=4000-5Q. The second firm now has bad management, increasing its costs to 50Q2. You are still playing Cournot. What is your output and profits?
Please show all your work. Your firm has total costs equal to 40Q1 and at this...
Please show all your work. Your firm has total costs equal to 40Q1 and at this point you are the only firm in the market. The demand you face is P=4000-5Q. (Any type of Q will do!). What is your output and profits? What is the deadweight loss?
Please show all your work. Your firm has total costs equal to 40Q1. Firm 2 has...
Please show all your work. Your firm has total costs equal to 40Q1. Firm 2 has total costs of 50Q2. The demand you face is P=4000-5Q. You are the Stackelberg leader and firm 2 is the Stackelberg follower. What is your output and profits?
A natural monopolist has the total cost function c(y) = 350 + 20y, where y is...
A natural monopolist has the total cost function c(y) = 350 + 20y, where y is its output. The inverse demand function for the monopolist’s product is p = 100 – 2y. a) The firm is required by law to meet demand at a price equal to its marginal costs. Calculate the output, the price, profits of the firm, consumers’ surplus and the deadweight loss in the market if the firm To complies with this law. b) Suppose now that...
Q4. A firm has a demand curve P = 6600 - 100. Its total costs are...
Q4. A firm has a demand curve P = 6600 - 100. Its total costs are TC = Q2. What are the optimal output, price and profits of the firm? Now assume that the firm is divided into two profit centres. One division manufactures the product at a total cost of TC = Q?, then transfers it to a selling division that faces the firm's demand curve. The selling division has no costs other than the transfer price and that...
i) A profit-maximising firm faces a downward-sloping demand curve for its output and has marginal...
i) A profit-maximising firm faces a downward-sloping demand curve for its output and has marginal costs that increase with output. Show, on a single diagram, how its profit maximisation decision can be represented both in terms of a feasible set optimisation and its marginal revenue and marginal cost. Why is there a deadweight loss in this case? (5) ii) Now assume the firm is a typical firm in a perfectly competitive market. Show the firm's optimal choice alongside the...
A firm with market power has an inverse demand curve of P = 450 - 5Q...
A firm with market power has an inverse demand curve of P = 450 - 5Q and marginal cost of MC = 400, where Q is measured in thousands. What is the deadweight loss from market power at the firm's profit-maximizing output level? $15,000 $280,000 $22.500 $9.400
Suppose a profit-maximizing monopolist has total cost and marginal cost as follow
Suppose a profit-maximizing monopolist has total cost and marginal cost as follow. TC =8Q + 10 and MC = 8. It faces the demand curve P=20-1/5Q. What is the equilibrium price and output? What is the total profit? Calculate the consumer surplus, producer surplus, and deadweight loss if the firm acts as a monopolist. Illustrate your answer with a diagram. Calculate the consumer surplus, producer surplus, and deadweight loss if the firm acts as a perfectly price-discriminated monopolist. Illustrate your answer with a diagram.
SHOW ALL WORK A profit-maximizing firm in the short run has total fixed costs of $200....
SHOW ALL WORK A profit-maximizing firm in the short run has total fixed costs of $200. Its variable costs are as below. Output Total Variable Cost 0 $0 1 $190 2 $360 3 $510 4 $650 5 $800 6 $990 7 $1,190 8 $1,420 9 $1,770 10 $2,170 (A) (3 pts.) Calculate average total cost when output is 5 units....
Q4. A firm has a demand curve P = 6600 - 100. Its total costs are TC = Q2. What are the optimal output, price and profits of the firm? Now assume that the firm is divided into two profit centres. One division manufactures the product at a total cost of TC = Q?, then transfers it to a selling division that faces the firm's demand curve. The selling division has no costs other than the transfer price and that...
i) A profit-maximising firm faces a downward-sloping demand curve for its output and has marginal costs that increase with output. Show, on a single diagram, how its profit maximisation decision can be represented both in terms of a feasible set optimisation and its marginal revenue and marginal cost. Why is there a deadweight loss in this case? (5) ii) Now assume the firm is a typical firm in a perfectly competitive market. Show the firm's optimal choice alongside the...
A firm with market power has an inverse demand curve of P = 450 - 5Q and marginal cost of MC = 400, where Q is measured in thousands. What is the deadweight loss from market power at the firm's profit-maximizing output level? $15,000 $280,000 $22.500 $9.400
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