Homework Answers
Demand function
Q = 400-4P
Inverse demand function
P = (400-Q)/4
P = 100-0.25Q
Total revenue = P *Q = (100-0.25Q)*Q
TR = 100Q - 0.25Q(2)
MR =Marginal revenue = d (TR)/dQ
MR = d(100Q-0.25Q2)/dQ
MR = 100-0.5Q
Now to get profit maximization quantity
MC = MR
2Q = 100-0.5Q
2.5Q = 100
Q = 40
Answer: 40
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curves. Management wants to adjust the production output quantity
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Give your answer by dragging the Q line to a new position to mark
the quantity at which profit is as large as possible.
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A monopolist's inverse demand function P D(Q) is described as follows: D(1)-64, D(2)-45, D(3)-26, D(4)-17, D(5)-8. Answer the following: a) What is the infra-marginal effect of this monopolist at Q-1? b) What is the volume effect of this monopolist at Q-1? c) What is the marginal revenue of this monopolist at Q-3? d) Suppose the marginal cost is not constant and increases with production in the following way: MC(1)-1, MC(2)-6, MC(3)-12, MC(4)-21, MC(5)-33. How many units should this monopolist sell...
The graph below shows a monopolist's demand (D), marginal
revenue (MR), marginal cost (MC), and average total cost (ATC)
curves. Management wants to adjust the production output quantity
to maximize the firm's profits. What quantity should the firm aim
for?
Give your answer by dragging the Q line to a new position to mark
the quantity at which profit is as large as possible.
Price and cost ATC MC MR Quantity
4. A monopolist faces a market demand defined by P 20. There are no fixed costs. 100 (1/5)Q. Her marginal cost is given by MC (a) Graph the market demand, the marginal revenue curve and the marginal cost curve, labeling the intercepts. (5 marks) (b) Calculate the monopolist's profit-maximizing price, output and profit. (5 marks) (c) Suppose that this market can now be divided into two separate markets and the supplier can discriminate between them. The demand curves are given...
Figure 01. Cost and Demand for a Monopolistic Competitor Price $15.00 --- $10.00 --- — АС MC Imre 11 Demand curve facing each firm, de 324250 Quantity Question 02. Using Figure 01, the total cost of producing the profit-maximizing output for each firm is: A. $320. B. $480 C. $420 D. $500 Question 03. Using Figure 01, the profits at the profit-maximizing output for each firm is: A. $320. B. $480 C. $160. D. $420. Question 04. Suppose that at...
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