1.) The profit-maximizing output level for a monopolist is where the: A. price is maximized. B....
1.) The profit-maximizing output level for a monopolist is where the:
A. price is maximized.
B. output sold is maximized.
C. ATC curve is minimized.
D. maximum efficiency is achieved.
E. MR = MC.
2.) An example of price discrimination is the price charged for:
A. troll dolls.
B. part tickts.
C. clothes.
D. diamonds.
Homework Answers
Ans) the correct option is E. MR = MC.
At Profit maximization MR = MC in monopoly
Ans) the correct option is B. part tickets
Price discrimination is a practice of charging different prices from consumers for the same product.
Add Answer to:
1.) The profit-maximizing output level for a monopolist is where
the:
A. price is maximized.
B....
Which of the following conditions holds for a monopolist at the profit-maximizing level of output? a....
Which of the following conditions holds for a monopolist at the profit-maximizing level of output? a. MC=MR, and the monopolist can earn a positive economic profit. b. P=MC, and the monopolist usually earns zero economic profit. c. P≻ ≻ MC, and the monopolist usually earns zero economic profit d. P=MR=MC, and the monopolist usually earns a positive economic profit
1) The profit maximizing output for this monopolist is ________ units (numeric). 2) The profit maximizing...
1) The profit maximizing output for this monopolist is ________
units (numeric).
2) The profit maximizing price this monopolist will charge is $
_______(Numeric).
3) The total revenue (TR) this monopolist will receive when it
maximizes its profit is $ _______(Numeric).
4) The average total cost (ATC) this monopolist will experience
when it maximizes its profit is $ _______(Numeric).
5) The total cost (TC) this monopolist will experience when it
maximizes its profit is $ _______(Numeric).
6) This monopolist earns...
Refer to the graph below: Untitled.png a. What is the profit-maximizing quantity and what price will...
Refer to the graph below: Untitled.png a. What is the profit-maximizing quantity and what price will the monopolist charge? a. What is the total revenue at the profit-maximizing output level? b. What is the total cost at the profit-maximizing output level? c. What is the profit? d. What is the profit per unit (average profit) at the profit-maximizing output level? e. If this industry was organized as a perfectly competitive industry, what would be the profit- maximizing price and quantity?...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice is fgab. is Ogan. is ba Dollars Saved If a perfectly competitive firm is producing at the P MC output and realizing an economic profit, at that output Multiple Choice marginal revenue is less than price. marginal revenue exceeds ATC. ATC is being minimized. total revenue equals total cost. The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve...
10. The monopoly firm's profit-maximizing price is: determined for the quantity of output at which MR...
10. The monopoly firm's profit-maximizing price is: determined for the quantity of output at which MR > MC by the greatest amount. given by the point on the ATC curve for the profit-maximizing quantity. given by the point on the demand curve for the profit-maximizing quantity. found where MR > MC at the monopolist's profit-maximizing quantity of output.
draw graphs of each market structure using the following information: profit maximizing level of output 400...
draw graphs of each market structure using the following
information: profit maximizing level of output 400 price at
$100
I U U P S Rena + Shek. 3. Draw graphs of each market structure using the following information: Profit-maximizing level of output of 400 Price of $100 ATC of $70 when output = 400 a. Perfect competition MC MR ATC 400 b. Monopoly C. Monopolistic competition d. Oligopoly
Help with 14-16 please. 14. A Monopoly: A. Will realize an economic profit if price exceeds...
Help with 14-16 please.
14. A Monopoly: A. Will realize an economic profit if price exceeds ATC at the profit-maximizing/loss-minimizing level of output. B. Will realize an economic profit if ATC exceeds MR at the profit-maximizing/loss-minimizing level of output c. Will realize an economic loss if MC intersects the down-sloping portion of MR D. Always realizes an economic profit. MC ATC AVC 15. At equilibrium, the profit-maximizing monopolist facing the situation shown in the graph above will face: A. Average...
a-what is the firm's maximizing output? b-what is the firm's profit? c- if the price drops...
a-what is the firm's maximizing output?
b-what is the firm's profit?
c- if the price drops below ? this firm will shut down
MC ATC AVC P=150 D=MR 120 104 1500 2400 3200 4800 6000 7400
1) 1) A single-price monopolist is currently producing an output level where P-520, MR = $13,...
1) 1) A single-price monopolist is currently producing an output level where P-520, MR = $13, ATC = $15, and MC = $14. In order to maximize profits, this monopolist should A) shut down B) decrease production and increase price. C) not change his output level, because he is currently at the profit-maximizing output level. D) increase production and reduce price. E) there is insufficient information to make a recommendation 2) 2) Consider a monopolist that is able to distinguish...
II.A. Identify and label the profit-maximizing level of output (Q) that will be pursued by this...
II.A. Identify and label the profit-maximizing level of output (Q) that will be pursued by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand Output(Q) MR II.B. Draw and label the rectangle that represents the Total Revenue (TR) generated by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand -Output(Q) MR II.C. Draw and label the rectangles that represent Total Cost (TC), Total Fixed Cost (TFC) and Total Variable Cost (TVC) generated by this ‘monopolistic' firm....
1) The profit maximizing output for this monopolist is ________
units (numeric).
2) The profit maximizing price this monopolist will charge is $
_______(Numeric).
3) The total revenue (TR) this monopolist will receive when it
maximizes its profit is $ _______(Numeric).
4) The average total cost (ATC) this monopolist will experience
when it maximizes its profit is $ _______(Numeric).
5) The total cost (TC) this monopolist will experience when it
maximizes its profit is $ _______(Numeric).
6) This monopolist earns...
Refer to the graph below: Untitled.png a. What is the profit-maximizing quantity and what price will the monopolist charge? a. What is the total revenue at the profit-maximizing output level? b. What is the total cost at the profit-maximizing output level? c. What is the profit? d. What is the profit per unit (average profit) at the profit-maximizing output level? e. If this industry was organized as a perfectly competitive industry, what would be the profit- maximizing price and quantity?...
At the profit-maximizing output, total fixed cost MC MR ATC b AVC hkn Output Multiple Choice is fgab. is Ogan. is ba Dollars Saved If a perfectly competitive firm is producing at the P MC output and realizing an economic profit, at that output Multiple Choice marginal revenue is less than price. marginal revenue exceeds ATC. ATC is being minimized. total revenue equals total cost. The average total cost curve for a perfectly competitive firm. Suppose the marginal cost curve...
10. The monopoly firm's profit-maximizing price is: determined for the quantity of output at which MR > MC by the greatest amount. given by the point on the ATC curve for the profit-maximizing quantity. given by the point on the demand curve for the profit-maximizing quantity. found where MR > MC at the monopolist's profit-maximizing quantity of output.
draw graphs of each market structure using the following
information: profit maximizing level of output 400 price at
$100
I U U P S Rena + Shek. 3. Draw graphs of each market structure using the following information: Profit-maximizing level of output of 400 Price of $100 ATC of $70 when output = 400 a. Perfect competition MC MR ATC 400 b. Monopoly C. Monopolistic competition d. Oligopoly
Help with 14-16 please.
14. A Monopoly: A. Will realize an economic profit if price exceeds ATC at the profit-maximizing/loss-minimizing level of output. B. Will realize an economic profit if ATC exceeds MR at the profit-maximizing/loss-minimizing level of output c. Will realize an economic loss if MC intersects the down-sloping portion of MR D. Always realizes an economic profit. MC ATC AVC 15. At equilibrium, the profit-maximizing monopolist facing the situation shown in the graph above will face: A. Average...
a-what is the firm's maximizing output?
b-what is the firm's profit?
c- if the price drops below ? this firm will shut down
MC ATC AVC P=150 D=MR 120 104 1500 2400 3200 4800 6000 7400
1) 1) A single-price monopolist is currently producing an output level where P-520, MR = $13, ATC = $15, and MC = $14. In order to maximize profits, this monopolist should A) shut down B) decrease production and increase price. C) not change his output level, because he is currently at the profit-maximizing output level. D) increase production and reduce price. E) there is insufficient information to make a recommendation 2) 2) Consider a monopolist that is able to distinguish...
II.A. Identify and label the profit-maximizing level of output (Q) that will be pursued by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand Output(Q) MR II.B. Draw and label the rectangle that represents the Total Revenue (TR) generated by this 'monopolistic' firm. (5 Points) $$ MC ATC AVC Market Demand -Output(Q) MR II.C. Draw and label the rectangles that represent Total Cost (TC), Total Fixed Cost (TFC) and Total Variable Cost (TVC) generated by this ‘monopolistic' firm....
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