Homework Answers
Answer
if the firm is producing at a socially optimum level then it
produces at MC=P
where
Q=140 units and P=10
====
if the firm produces at monopoly level then
it produces at MR=MC
where
Q=100 and P=13 from demand curve and MC=7
=====
Deadweight loss =0.5*(monopoly price -MC)*change in Q
=0.5*(13-7)*(140-100)
=120
the deadweight loss is $120
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Calculate the deadweight loss associated with the monopoly situation shown. Price and Cost мс $13 $10...
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Given the following diagranm Monopoly IGRAPH Regular Monopoly Natural Monopoly Off Off Show Deadweight Loss Show Economic Profit/Loss ($) Price, Average/Marginal Cost 225 200 175 150 125-- 100 ATC MC-AVC 75 50 25 MR 0 20 4060 80 100 120 140 160 180 Quantity (units per month) PROFIT CALCULATIONS SETTINGS Reset $125.00 Market Price (Pmkt) Cost Structure LoeMarginal Revenue (MR) High Cost $50.00 Cost $95.00 Marginal Cost (MC) Quantity $7,500.00 $8,100.00 ($600.00) Revenue 120 40 Costs Quantity 60 Profit Instructions:...
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12th attempt
See Hint
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$2.50
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two decimal places __________________________ ?
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This generates a net revenue of $20,000. The graph on the right
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12th attempt
See Hint
Calculate the deadweight loss associated with a price ceiling of
$2.50
With deadweight loss you do not use units. Just input number up to
two decimal places __________________________ ?
7.5 7 6.5 5.5 5 4.5 4 3.5 3 2.5 2 1.5 0.5 Quantity (millions of 1 LO LO LO LO LO LO LO We were unable to transcribe this image
U INQUIZITIVE Chapter 33: International Finance Page(s) 1084-1085 33.3. What causes trade deficits? Calculate the current account balance if a small country exports $200 million in goods and services and imports $160 million, it receives $80 million in foreign aid and private charity (net), it pays $15 million to foreign citizens working locally, and its own citizens earn $36 million abroad. million dollars Click or tap the numbers or use your keyboard to type. If you're not sure, just take...
Price/Cost ($) 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....
The graph on the left shows a market in which a monopolist
airline does not price-discriminate and charges $300 per ticket.
This generates a net revenue of $20,000. The graph on the right
shows a market in which the monopolist price-discriminates and
charges $200 to customers who buy their tickets at least two weeks
in advance, and $400 to customers who do not. This generates a net
revenue of $25,000.How much net revenue would this airline generate
if it were...
I. Suppose a monopolist has C(Q)20 + 2Q, and the demand curve it faces is Q- 200p-2. What w be the price, quantity, and prof for this firm? Calculate the deadweight loss resulting from the monopoly in this market. What are producer surplus consumer surplus, and total surplus under monopoly and at the efficient level? 2. Which of the following are na tural monopolies? Explain your answers a. Firms cach have C(q)-10+q b. Firms cach have C(q) 1000000 +1000000q c....
Suppose the government imposes a tax on cheese. The deadweight loss from this tax will likely be greater in the a. eighth year after it is imposed than in the first year after it is imposed because demand and supply will be more elastic in the first year than in the eighth year. b. first year after it is imposed than in the eighth year after it is imposed because demand and supply will be more elastic in the first...
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