Please answer the following 3 questions:
Homework Answers
1.A monopoly is in equilibrium when MR=MC.In this case MR=MC at R.
Answer-R
2.A perfectly competitive firm produces the level of output at which P=MC.Level of competitive output=Q2.Level of monopolistic output=Q1.
Answer-Last option
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Please answer the following 3 questions:
Price МС ATC Tmi 5 ---- Quantity/Time MR According to...
Question 47 (3 points Dollars MIC ATC Pt P4 Ps Quantity of Output MR The profit-maximizing...
Question 47 (3 points Dollars MIC ATC Pt P4 Ps Quantity of Output MR The profit-maximizing price and quantity established by the unregulated monopolist in the above figure are 1) Q1 units of output and a price of P5 2) Q3 units of output and a price of P3. 3) Q1 units of output and a price of P1. 4) Q4 units of output and a price of P4
23. Economic profits are NOT possible in the long run in which of the following markets?...
23. Economic profits are NOT possible in the long run in which of the following markets? a Monopoly Oligopoly Monopolistic Competition d Duopoly Figure 1 26. Refer to Figure 1: Suppose the firm whose costs and demand are represented in the figure is a monopolist. What is the profit of this firm? a) (P4-P2)*Q1 b) (P3-P1)*Q1 c) (P6-P4)*Q1 d) (P3-P2)*Q2 27. Refer to Figure 1: Suppose the firm whose costs and demand are represented in the figure is a perfectly...
Graph Worksheet MC DI MR P4 ATC P3 P2 AVC PI 02 1. What is the...
Graph Worksheet MC DI MR P4 ATC P3 P2 AVC PI 02 1. What is the price and quantity at the optimum level of production? Is this an economic profit, loss, or break-even? Should the firm produce? 2. If the industry model is monopolistic competition, what will happen to the industry? What will happen to the demand and marginal revenue curves for the individual firm? In the long run where will the demand curve be? Will the firm achieve productive...
Figure 12-4 Price and cost MC ATC AVC $40.50 36.00 30.00 22.00 20.00 -MR 130 180...
Figure 12-4 Price and cost MC ATC AVC $40.50 36.00 30.00 22.00 20.00 -MR 130 180 240 Quantity Figure 12-4 shows the cost and demand curve for a profit-maximizing firm in a perfectly competitive market. 37) Refer to Figure 12-4. If the market price is $30 and if the firm is producing output, what is the amount of its total variable cost? A) $7,200 B) $6,480 C) $5,400 D) $3,960 Figure 15-6 Revenue and cost per unit $30 ATC Demand...
please answer all questions! Figure 15-6 Price $20+ Marginal Cost 100 150 200 Quantity Marginal Revenue...
please answer all questions!
Figure 15-6 Price $20+ Marginal Cost 100 150 200 Quantity Marginal Revenue Refer to Figure 15-6. What is the deadweight loss caused by a profit-maximizing monopoly? O O $150 $200 $250 Os300 A monopolist faces market demand given by P - 60 - Q. For this market, MR = 90 - 2Q and MC - Q. What price will the monopolist charge in order to maximize profits? O $20 O $30 O so Osso In Canada,...
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total...
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total Cost $550 $1.000 500 1.075 450 1.200 1.375 350 1.600 300 1.875 250 2200 2.575 400 200 Use Table: Demand and Total Cost. Lenoia runs a natural monopoly firm producing electricity for a small mountain village. The table shows Lenoia's demand and total cost of producing electricity. The profit-maximizing quantity of electricity for her to produce is megawatts. O2 os Figure: The Monopolist Price,...
1. Answer the following questions: a. Why is the demand curve for a monopolist downward-sloping, while...
1. Answer the following questions:
a. Why is the demand curve for a monopolist downward-sloping,
while the demand curve for the perfectly competitive firm is
horizontal?
b. Suppose a perfectly competitive industry is suddenly
transformed to a monopoly industry. What will happen to price,
output, consumer and producer surplus, and deadweight loss?
c. If the wireless phone industry is dominated by four large
firms, each with 20% of market share, and 2 small firms, each with
10% market share, what...
Please answer both of the following questions: Price мC ATC AVC В A Quantity/Week Refer to...
Please answer both of the following questions:
Price мC ATC AVC В A Quantity/Week Refer to the above figure. The competitive firm's short run supply curve starts at B and goes along the ATC curve as quantity increases. starts at B and goes along the MC curve as quantity increases. starts at A and goes along the AVC curve as quantity increases. starts at A and goes along the MC curve as quantity increases. QUESTION 14 A market structure in...
Economics 242 ce HW#6 Nov. 2.019 Price (5) 200 300 Quantity 350 MR Answer questions 1...
Economics 242 ce HW#6 Nov. 2.019 Price (5) 200 300 Quantity 350 MR Answer questions 1 - 5 from the Figure above. 1. Identify the output level this firm will produce 2. At this output level what is the price? 3. At this output level calculate total revenue 4. At this output level, calculate total profit or loss 5. At this output level, calculate unit profit or loss Quantity Sold A Monopoly Firm Price Marginal per Unit Revenue SO Marginal...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 5)...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 5) Monopoly is a market structure in which: A) one firm makes up the entire market. B) many firms produce differentiated products. C) many firms produce identical products. D) a few firms dominate the market. 6) A market structure in which one firm makes up the entire market is: A) perfect competition. B) an oligopoly. C) monopolistic competition. D) a monopoly. 7) The demand curve...
Question 47 (3 points Dollars MIC ATC Pt P4 Ps Quantity of Output MR The profit-maximizing price and quantity established by the unregulated monopolist in the above figure are 1) Q1 units of output and a price of P5 2) Q3 units of output and a price of P3. 3) Q1 units of output and a price of P1. 4) Q4 units of output and a price of P4
23. Economic profits are NOT possible in the long run in which of the following markets? a Monopoly Oligopoly Monopolistic Competition d Duopoly Figure 1 26. Refer to Figure 1: Suppose the firm whose costs and demand are represented in the figure is a monopolist. What is the profit of this firm? a) (P4-P2)*Q1 b) (P3-P1)*Q1 c) (P6-P4)*Q1 d) (P3-P2)*Q2 27. Refer to Figure 1: Suppose the firm whose costs and demand are represented in the figure is a perfectly...
Graph Worksheet MC DI MR P4 ATC P3 P2 AVC PI 02 1. What is the price and quantity at the optimum level of production? Is this an economic profit, loss, or break-even? Should the firm produce? 2. If the industry model is monopolistic competition, what will happen to the industry? What will happen to the demand and marginal revenue curves for the individual firm? In the long run where will the demand curve be? Will the firm achieve productive...
Figure 12-4 Price and cost MC ATC AVC $40.50 36.00 30.00 22.00 20.00 -MR 130 180 240 Quantity Figure 12-4 shows the cost and demand curve for a profit-maximizing firm in a perfectly competitive market. 37) Refer to Figure 12-4. If the market price is $30 and if the firm is producing output, what is the amount of its total variable cost? A) $7,200 B) $6,480 C) $5,400 D) $3,960 Figure 15-6 Revenue and cost per unit $30 ATC Demand...
please answer all questions!
Figure 15-6 Price $20+ Marginal Cost 100 150 200 Quantity Marginal Revenue Refer to Figure 15-6. What is the deadweight loss caused by a profit-maximizing monopoly? O O $150 $200 $250 Os300 A monopolist faces market demand given by P - 60 - Q. For this market, MR = 90 - 2Q and MC - Q. What price will the monopolist charge in order to maximize profits? O $20 O $30 O so Osso In Canada,...
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total Cost $550 $1.000 500 1.075 450 1.200 1.375 350 1.600 300 1.875 250 2200 2.575 400 200 Use Table: Demand and Total Cost. Lenoia runs a natural monopoly firm producing electricity for a small mountain village. The table shows Lenoia's demand and total cost of producing electricity. The profit-maximizing quantity of electricity for her to produce is megawatts. O2 os Figure: The Monopolist Price,...
1. Answer the following questions:
a. Why is the demand curve for a monopolist downward-sloping,
while the demand curve for the perfectly competitive firm is
horizontal?
b. Suppose a perfectly competitive industry is suddenly
transformed to a monopoly industry. What will happen to price,
output, consumer and producer surplus, and deadweight loss?
c. If the wireless phone industry is dominated by four large
firms, each with 20% of market share, and 2 small firms, each with
10% market share, what...
Please answer both of the following questions:
Price мC ATC AVC В A Quantity/Week Refer to the above figure. The competitive firm's short run supply curve starts at B and goes along the ATC curve as quantity increases. starts at B and goes along the MC curve as quantity increases. starts at A and goes along the AVC curve as quantity increases. starts at A and goes along the MC curve as quantity increases. QUESTION 14 A market structure in...
Economics 242 ce HW#6 Nov. 2.019 Price (5) 200 300 Quantity 350 MR Answer questions 1 - 5 from the Figure above. 1. Identify the output level this firm will produce 2. At this output level what is the price? 3. At this output level calculate total revenue 4. At this output level, calculate total profit or loss 5. At this output level, calculate unit profit or loss Quantity Sold A Monopoly Firm Price Marginal per Unit Revenue SO Marginal...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 5) Monopoly is a market structure in which: A) one firm makes up the entire market. B) many firms produce differentiated products. C) many firms produce identical products. D) a few firms dominate the market. 6) A market structure in which one firm makes up the entire market is: A) perfect competition. B) an oligopoly. C) monopolistic competition. D) a monopoly. 7) The demand curve...
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