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6. (20 pts) You are a monopolist facing inverse...
6(20 pts) You are a monopolist facing inverse demand for your product given by P-120-20 and...
6(20 pts) You are a monopolist facing inverse demand for your product given by P-120-20 and you have constant marginal cost given by MC-30 (a) (10 pts) Assume you can charge 2 different prices based on quantity purchased. What are the producer's suplus-maximizing levels of these prices? (b) (10 pts) Show graphically how much more producer's surplus vou make by setting 2 prices instead of 1 in this market
6. (20 pts) You are a monopolist facing inverse demand for your product given by p...
6. (20 pts) You are a monopolist facing inverse demand for your product given by p -120-2Q and you have constant marginal cost given by MC- 30 (a) (10 pts) Assume you can charge 2 different prices based on quantity purchased. What are the producer's surplus-maximizing levels of these prices?
You are a monopolist facing inverse demand for your product given by P = 120 -...
You are a monopolist facing inverse demand for your product given by P = 120 - 2Q and you have constant marginal cost given by MC = 30 A. Assume you can charge 2 different prices based on the quantity purchased. What are the producers surplus maximizing levels of these prices? B. Show graphically how much more producer's surplus you make by setting 2 prices instead of 1 in this market.
Consider a single-price monopolist (i.e. the monopolist cannot price discriminate) facing the following market demand curve:...
Consider a single-price monopolist (i.e. the monopolist cannot price discriminate) facing the following market demand curve: P = 120 − Q. The monopolist has constant marginal cost of $20 and zero fixed cost. (a) Determine the monopolist’s profit maximizing quantity, denoted QM, and profit maximizing price, denoted PM. (b) Determine the quantity and price that would result in the market if this instead were a competitive market, denoted QC and PC, respectively. (c) Draw a picture of the market demand...
The table below presents the demand schedule and marginal costs facing a monopolist producer. The table...
The table below presents the demand schedule and marginal costs
facing a monopolist producer.
The table below presents the demand schedule and marginal costs facing a monopolist producer. Q TR ($) MR ($) MC ($) P / ($) 13 0 5 1 12 2 11 10 - 3 Instructions: Round your answers to the nearest whole number and include a negative sign if appropriate. Leave no cells blank. Enter O if appropriate. a. Fill in the total revenue and marginal...
There is only one supplier in the market for widgets, which acts as a monopolist. Suppose...
There is only one supplier in the market for widgets, which acts as a monopolist. Suppose the monopolist has marginal costs given by MC = 30+QMC = 30+Q. Demand for widgets is given by P = 210−QP = 210−Q. If the monopolist is maximizing their profits, they will choose to produce a quantity of ____ and charge a price of____. Points possible: 1 Question 2 What is the deadweight loss caused by the firm acting as a monopolist instead of...
A monopolist is facing the following demand curve P = 50 − 5Q. The monopolist has...
A monopolist is facing the following demand curve P = 50 − 5Q. The monopolist has the following marginal cost MC = 10. The monopolist knows exactly the willingness to pay of each individual consumer and charge consumers individual prices. Calculate the deadweight loss in this case. (a) DWL=0 (b) DWL=10 (c) DWL=5 (d) None of the above.
Name: Consider the market for a good where the demand curve facing a firm who has...
Name: Consider the market for a good where the demand curve facing a firm who has considerable market power is given by P = 80 -0.05Q, the marginal revenue curve is given by MR = 80 -0.1Q, and the firm's marginal cost curve is given by MC = 17 + 0.020. a. If the firm behaves like a competitive firm, find equilibrium price and quantity. Graphically identify and calculate consumer and producer surplus. b. If the firm behaves like a...
The table below presents the demand schedule and marginal costs facing a monopolist producer. TR ($)...
The table below presents the demand schedule and marginal costs facing a monopolist producer. TR ($) MR ($) MC($) Q 0 P($) 14 | | 13 2 12 4 10 6 181 8 6 9 5 10 4. T T Instructions: Round your answers to the nearest whole number and include a negative sign if appropriate. Leave no cells blank. Enter O if appropriate. a. Fill in the total revenue and marginal revenue columns. b. What is the profit-maximizing level...
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700 9Q The firm's...
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700 9Q The firm's total cost is given by C() 11,000+9000 (a) Show your work in solving for the firm's profit-maximizing quantity and price. What is the maximized value of profit? (b) Plot this firm's revenue and total cost functions. Illustrate the profit-maximizing quantity on this graph, as well as the firm's maximized profit level (c) Now plot this firm's inverse demand, marginal revenue, and marginal cost curves....
6(20 pts) You are a monopolist facing inverse demand for your product given by P-120-20 and you have constant marginal cost given by MC-30 (a) (10 pts) Assume you can charge 2 different prices based on quantity purchased. What are the producer's suplus-maximizing levels of these prices? (b) (10 pts) Show graphically how much more producer's surplus vou make by setting 2 prices instead of 1 in this market
6. (20 pts) You are a monopolist facing inverse demand for your product given by p -120-2Q and you have constant marginal cost given by MC- 30 (a) (10 pts) Assume you can charge 2 different prices based on quantity purchased. What are the producer's surplus-maximizing levels of these prices?
The table below presents the demand schedule and marginal costs
facing a monopolist producer.
The table below presents the demand schedule and marginal costs facing a monopolist producer. Q TR ($) MR ($) MC ($) P / ($) 13 0 5 1 12 2 11 10 - 3 Instructions: Round your answers to the nearest whole number and include a negative sign if appropriate. Leave no cells blank. Enter O if appropriate. a. Fill in the total revenue and marginal...
Name: Consider the market for a good where the demand curve facing a firm who has considerable market power is given by P = 80 -0.05Q, the marginal revenue curve is given by MR = 80 -0.1Q, and the firm's marginal cost curve is given by MC = 17 + 0.020. a. If the firm behaves like a competitive firm, find equilibrium price and quantity. Graphically identify and calculate consumer and producer surplus. b. If the firm behaves like a...
The table below presents the demand schedule and marginal costs facing a monopolist producer. TR ($) MR ($) MC($) Q 0 P($) 14 | | 13 2 12 4 10 6 181 8 6 9 5 10 4. T T Instructions: Round your answers to the nearest whole number and include a negative sign if appropriate. Leave no cells blank. Enter O if appropriate. a. Fill in the total revenue and marginal revenue columns. b. What is the profit-maximizing level...
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700 9Q The firm's total cost is given by C() 11,000+9000 (a) Show your work in solving for the firm's profit-maximizing quantity and price. What is the maximized value of profit? (b) Plot this firm's revenue and total cost functions. Illustrate the profit-maximizing quantity on this graph, as well as the firm's maximized profit level (c) Now plot this firm's inverse demand, marginal revenue, and marginal cost curves....
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