The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $8.00. Show all work.
The competitive price would be $ _____________ & The competitive quantity would be _____________
Homework Answers
Competitive firm produces output where P=MC.
So, competitive price will be P=MC = 8 and competitive quantity will be 20 as can be seen from the table given above.
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The following table shows the demand curve facing a monopolist
who produces at a constant marginal...
The following table shows the demand curve facing a monopolist who produces at a constant marginal...
The following table shows the demand curve facing a monopolist
who produces at a constant marginal cost of $8.00. Show all
work.
What is the firm's profit? Profit equals $____________ What
would the equilibrium price and quantity be in a competitive
industry?
TR MR Price Quantity 180 16 14 8 12 12 10 16 20 6 24 4 28 2 32 0 36 8
The following table shows the demand curve facing a monopolist who produces at a constant marginal...
The following table shows the demand curve facing a monopolist
who produces at a constant marginal cost of $8.00. Show all
work.
The firm's profit-maximizing output is ___________ & The
corresponding price is $___________________
TR MR Price Quantity 180 16 14 8 12 12 10 16 20 6 24 4 28 2 32 0 36 8
The following table shows the demand curve facing a monopolist who produces at a constant marginal...
The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $8.00: Price 18 16 14 12 10 8 6 4 2 0 Quantity 0 4 8 12 16 20 24 28 32 36 Calculate the firm's marginal revenue curve. The firm's marginal revenue (MR) curve is A. MR = 18 - 1.000. B. MR = 10-0.50Q. C. MR = 18 -0.13Q. D. MR = 18 -0.50Q. The firm's profit-maximizing output is 24...
The following table shows the demand curve facing a monopolist who produces at a constant marginal...
The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $8.00: Price Quantity 18 16 8 14 16 12 24 10 32 8 40 48 4 56 2 64 0 72 Calculate the firm's marginal revenue curve The firm's marginal revenue (MR) curve is OA. MR 18- 0.500. O B. MR 18-0.250. O C. MR 18-0.08Q. O D. MR 10-0.130. O E. MR 10-0.25Q What are the firm's profit-maximizing output and price?...
The following table shows the demand curve facing a monopolist who produces at a constant marginal...
The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $6.00 Price Quantity 0 18 16 2 14 12 6 10 8 10 12 8 6 4 14 2 16 0 18 Calculate the firm's marginal revenue curve. The firm's marginal revenue (MR) curve is A. MR 18-1.00Q B. MR 10 1.00Q C. MR 10-0.50Q O D. MR 18-0.25Q O E. MR 18-2.000 What are the firm's profit-maximizing output and price? The...
The table below presents the demand schedule and marginal costs facing a monopolist producer. The table...
The table below presents the demand schedule and marginal costs
facing a monopolist producer.
The table below presents the demand schedule and marginal costs facing a monopolist producer. Q TR ($) 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...
1. A monopolist faces demand given by P=18-0.50(MR-18-Q) and produces with a constant marginal cost of...
1. A monopolist faces demand given by P=18-0.50(MR-18-Q) and produces with a constant marginal cost of $10. Assume that there are no fixed costs. i. Solve for the profit-maximizing quantity and price. What is the firm's profit? ii. If this was a competitive market, what would the equilibrium price and quantity be? iii. Graph D, MR, and MC curves for the monopolist. Show the area that represents the social gain if the monopolist was forced to produce and price at...
The table below presents the demand schedule and marginal costs facing a monopolist producer. TR ($)...
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...
8. Natural monopoly analysis The following graph shows the demand (D) for electricity services in the...
8. Natural monopoly analysis The following graph shows the demand (D) for electricity services in the imaginary town of Utilityburg. The graph also shows the marginal revenue (MR) curve, the marginal cost (MC) curve, and the average total cost (ATC) curve for the local electricity company,a natural monopolist. On the following graph, use the black point (plus symbol) to indicate the profit-maximizing price and quantity for this natural monopolist 40 36 32 28 t 24 Monopoly Outcome a 20 t...
The table below shows the demand and cost data for a monopolist in a small town...
The table below shows the demand and cost data for a monopolist in a small town (a) Fill in the missing columns. (b) What output will the monopolist produce? (c) What price will the monopolist charge? (d) What total profit will the monopolist receive at the profit-maximizing level of output? (e) Draw the demand curve for the monopolist's product, the MR curve and the MC curve for the firm. You may draw it freehand and submit the photo. quantity price...
The following table shows the demand curve facing a monopolist
who produces at a constant marginal cost of $8.00. Show all
work.
What is the firm's profit? Profit equals $____________ What
would the equilibrium price and quantity be in a competitive
industry?
TR MR Price Quantity 180 16 14 8 12 12 10 16 20 6 24 4 28 2 32 0 36 8
The following table shows the demand curve facing a monopolist
who produces at a constant marginal cost of $8.00. Show all
work.
The firm's profit-maximizing output is ___________ & The
corresponding price is $___________________
TR MR Price Quantity 180 16 14 8 12 12 10 16 20 6 24 4 28 2 32 0 36 8
The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $8.00: Price 18 16 14 12 10 8 6 4 2 0 Quantity 0 4 8 12 16 20 24 28 32 36 Calculate the firm's marginal revenue curve. The firm's marginal revenue (MR) curve is A. MR = 18 - 1.000. B. MR = 10-0.50Q. C. MR = 18 -0.13Q. D. MR = 18 -0.50Q. The firm's profit-maximizing output is 24...
The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $8.00: Price Quantity 18 16 8 14 16 12 24 10 32 8 40 48 4 56 2 64 0 72 Calculate the firm's marginal revenue curve The firm's marginal revenue (MR) curve is OA. MR 18- 0.500. O B. MR 18-0.250. O C. MR 18-0.08Q. O D. MR 10-0.130. O E. MR 10-0.25Q What are the firm's profit-maximizing output and price?...
The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $6.00 Price Quantity 0 18 16 2 14 12 6 10 8 10 12 8 6 4 14 2 16 0 18 Calculate the firm's marginal revenue curve. The firm's marginal revenue (MR) curve is A. MR 18-1.00Q B. MR 10 1.00Q C. MR 10-0.50Q O D. MR 18-0.25Q O E. MR 18-2.000 What are the firm's profit-maximizing output and price? The...
The table below presents the demand schedule and marginal costs
facing a monopolist producer.
The table below presents the demand schedule and marginal costs facing a monopolist producer. Q TR ($) 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...
1. A monopolist faces demand given by P=18-0.50(MR-18-Q) and produces with a constant marginal cost of $10. Assume that there are no fixed costs. i. Solve for the profit-maximizing quantity and price. What is the firm's profit? ii. If this was a competitive market, what would the equilibrium price and quantity be? iii. Graph D, MR, and MC curves for the monopolist. Show the area that represents the social gain if the monopolist was forced to produce and price at...
The table below presents the demand schedule and marginal costs facing a monopolist producer. TR ($) 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...
8. Natural monopoly analysis The following graph shows the demand (D) for electricity services in the imaginary town of Utilityburg. The graph also shows the marginal revenue (MR) curve, the marginal cost (MC) curve, and the average total cost (ATC) curve for the local electricity company,a natural monopolist. On the following graph, use the black point (plus symbol) to indicate the profit-maximizing price and quantity for this natural monopolist 40 36 32 28 t 24 Monopoly Outcome a 20 t...
The table below shows the demand and cost data for a monopolist in a small town (a) Fill in the missing columns. (b) What output will the monopolist produce? (c) What price will the monopolist charge? (d) What total profit will the monopolist receive at the profit-maximizing level of output? (e) Draw the demand curve for the monopolist's product, the MR curve and the MC curve for the firm. You may draw it freehand and submit the photo. quantity price...
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