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4) Suppose the...
Please so work so I can use as study reference. Thank you :) 4) Suppose the...
Please so work so I can use as study reference. Thank you
:)
4) Suppose the inverse demand curve for a market is P-3-(ơn 6,000). The marginal cost of production in this market is S1 per unit (assume there is no fixed cost). the equailibrium price and quantity if the market is competitive b) Find the monopolist's marginal revenue function, and calculate the equilibrium price and quantity if the market is monopolized MR e) Sketch the supply and demand diagram,...
Please so work so I can use as study reference. Thank you :) 5) Suppose the...
Please so work so I can use as study reference. Thank you
:)
5) Suppose the malket demand curve is Q- 10200-100p. The monopolist's cost finction is C(q) = 1000 + qi/2 a) Find the monopolist's marginal revenue and marginal cost functions MR b) Calculate the equilibrium monopolist price and quantity s) Sketch the monopoly's demand, marginal revenue, and marginal cost curves. Label the axes, the curves, the equilibrium, and the vertical intercepts of all curves. d) Calculate consumer surplus,...
Please so work so I can use as study reference. Thank you :) 3) A competitive...
Please so work so I can use as study reference. Thank you :)
3) A competitive market has the inverse demand curve P 1000-25QP and the industry supply curve P 150+ 2505 a) Calculate the equilibrium price and quantity b) Sketch the S and D diagram. Label the axes, the curves, the equilibrium, and the vertical c) Calculate consumer surplus and producer surplus in equilibrium
i just need the answer for "e". Problem 1 (4 points) Knope Industries is a firm...
i
just need the answer for "e".
Problem 1 (4 points) Knope Industries is a firm that produces miniature model souvenirs with total cost function TC(Q) = 2500 + 50Q +0.02Q2 (e) Sketch a graph with the demand curve, marginal revenue curve, and marginal cost curve, and label the profit-maximizing price and quantity. (1 pt) Problem 1 (4 points) Knope Industries is a firm that produces miniature model souvenirs with total cost function TCQ) = 2500+ 500+ 0.02Q (a) Write...
2. The inverse demand for hangars is given by: P-3-Q/16,000. Suppose further that the marginal cost...
2. The inverse demand for hangars is given by: P-3-Q/16,000. Suppose further that the marginal cost of producing hangars is constant at $1 and the fixed cost is zero. a) What is the equilibrium price and quantity of hangars if the market is competitive? b) What is the equilibrium price and quantity of hangers if the market is monopolized? c) What is the dead weight or welfare loss of monopoly in this market?
please help! Suppose that good X is perfectly divisible (you can buy non-integer quantilies). The marginal...
please help!
Suppose that good X is perfectly divisible (you can buy non-integer quantilies). The marginal cost curve is given by MC 1.70+2 The demand curve is given by P -39-1.5Q, which gives MR 39-30 n the most efficient outcome (which perfectly competitive markets achieve), P-MC Solve the equilibrium pro e and quantity in The most efficient equilbrium quantity is The most officient equilibrium price is But a monopolist doos not produce the mos fficient price The most profitable quantity...
i need help with number 2 a- d 1) Suppose the second-hand market for concert tickets is perfectly competitive and t...
i need help with number 2 a- d
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10 online websites where consumers can buy tickets. The following describes the market demand for concerts and the cost of selling tickets. Market Demand: Q = 480 - 4p. Cost to Fim: c(q) = 2.57% + 100. Market Structure: Perfect Competition with N = 10 in the short-run. 2) In the above question, suppose Ticketmaster bought all...
1. A monopoly is facing an inverse demand curve that is p=200-5q. There is no fixed cost and the marginal cost of produc...
1. A monopoly is facing an inverse demand curve that is
p=200-5q. There is no fixed cost and the marginal cost of
production is given and it is equal to 50.
Find the total revenue function.
Find marginal revenue (MR).
Draw a graph showing inverse demand, MR, and marginal cost
(MC).
Find the quantity (q) that maximizes the profit.
Find price (p) that maximizes the profit.
Find total cost (TC), total revenue (TR), and profit made by
this firm.
Find...
Hints: In problem 11.7 the marginal cost is 20. For both problems it will be useful...
Hints: In problem 11.7 the marginal cost is 20. For both problems it will be useful to know that for a linear demand curve, written with price as a function of quantity (P=0-bQ) marginal revenue is MR=a-2bQ. For problem 12.20, for some steps you will have to re-arrange the demand so to give price as a function of quantity rather than quantity as a function of price. Part a of 12.20 is the same as what we did in the...
Part C Suppose the market for flowers is perfectly competitive. The market dema decimals to 2...
Part C Suppose the market for flowers is perfectly competitive. The market dema decimals to 2 decimal places. tsupply curve is qs p-200. In the questions below, round any a. Calculate the perfectly competitive equilibrium q and p Suppose the government institutes a per-unit tax on consumers equal to 75% of the market price of flowers. Calculate the new equilibrium q and p, consumer incidence, producer incidence, points (original demand and supply curves, new demand and/or s intercepts, slopes, equilibrium...
Please so work so I can use as study reference. Thank you
:)
4) Suppose the inverse demand curve for a market is P-3-(ơn 6,000). The marginal cost of production in this market is S1 per unit (assume there is no fixed cost). the equailibrium price and quantity if the market is competitive b) Find the monopolist's marginal revenue function, and calculate the equilibrium price and quantity if the market is monopolized MR e) Sketch the supply and demand diagram,...
Please so work so I can use as study reference. Thank you
:)
5) Suppose the malket demand curve is Q- 10200-100p. The monopolist's cost finction is C(q) = 1000 + qi/2 a) Find the monopolist's marginal revenue and marginal cost functions MR b) Calculate the equilibrium monopolist price and quantity s) Sketch the monopoly's demand, marginal revenue, and marginal cost curves. Label the axes, the curves, the equilibrium, and the vertical intercepts of all curves. d) Calculate consumer surplus,...
Please so work so I can use as study reference. Thank you :)
3) A competitive market has the inverse demand curve P 1000-25QP and the industry supply curve P 150+ 2505 a) Calculate the equilibrium price and quantity b) Sketch the S and D diagram. Label the axes, the curves, the equilibrium, and the vertical c) Calculate consumer surplus and producer surplus in equilibrium
i
just need the answer for "e".
Problem 1 (4 points) Knope Industries is a firm that produces miniature model souvenirs with total cost function TC(Q) = 2500 + 50Q +0.02Q2 (e) Sketch a graph with the demand curve, marginal revenue curve, and marginal cost curve, and label the profit-maximizing price and quantity. (1 pt) Problem 1 (4 points) Knope Industries is a firm that produces miniature model souvenirs with total cost function TCQ) = 2500+ 500+ 0.02Q (a) Write...
2. The inverse demand for hangars is given by: P-3-Q/16,000. Suppose further that the marginal cost of producing hangars is constant at $1 and the fixed cost is zero. a) What is the equilibrium price and quantity of hangars if the market is competitive? b) What is the equilibrium price and quantity of hangers if the market is monopolized? c) What is the dead weight or welfare loss of monopoly in this market?
please help!
Suppose that good X is perfectly divisible (you can buy non-integer quantilies). The marginal cost curve is given by MC 1.70+2 The demand curve is given by P -39-1.5Q, which gives MR 39-30 n the most efficient outcome (which perfectly competitive markets achieve), P-MC Solve the equilibrium pro e and quantity in The most efficient equilbrium quantity is The most officient equilibrium price is But a monopolist doos not produce the mos fficient price The most profitable quantity...
i need help with number 2 a- d
1) Suppose the second-hand market for concert tickets is perfectly competitive and there are primarily 10 online websites where consumers can buy tickets. The following describes the market demand for concerts and the cost of selling tickets. Market Demand: Q = 480 - 4p. Cost to Fim: c(q) = 2.57% + 100. Market Structure: Perfect Competition with N = 10 in the short-run. 2) In the above question, suppose Ticketmaster bought all...
1. A monopoly is facing an inverse demand curve that is
p=200-5q. There is no fixed cost and the marginal cost of
production is given and it is equal to 50.
Find the total revenue function.
Find marginal revenue (MR).
Draw a graph showing inverse demand, MR, and marginal cost
(MC).
Find the quantity (q) that maximizes the profit.
Find price (p) that maximizes the profit.
Find total cost (TC), total revenue (TR), and profit made by
this firm.
Find...
Hints: In problem 11.7 the marginal cost is 20. For both problems it will be useful to know that for a linear demand curve, written with price as a function of quantity (P=0-bQ) marginal revenue is MR=a-2bQ. For problem 12.20, for some steps you will have to re-arrange the demand so to give price as a function of quantity rather than quantity as a function of price. Part a of 12.20 is the same as what we did in the...
Part C Suppose the market for flowers is perfectly competitive. The market dema decimals to 2 decimal places. tsupply curve is qs p-200. In the questions below, round any a. Calculate the perfectly competitive equilibrium q and p Suppose the government institutes a per-unit tax on consumers equal to 75% of the market price of flowers. Calculate the new equilibrium q and p, consumer incidence, producer incidence, points (original demand and supply curves, new demand and/or s intercepts, slopes, equilibrium...
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