Homework Answers
Ans) profit maximizing quantity = Q2
Profit maximizing price = P2
For monopolist, profit is maximized at MR = MC
Ans) profit maximizing quantity = Q4
Profit maximizing price = P4
In perfectly competitive market, profit is maximized at P = MC
Ans) deadweight loss = cfh
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V OIVERSITY 2. Consider the following graph (10 marks) ATC NER Q1 Q2 Q3 Q4 The...
2. Consider the following exph (10 marks) Zoom ATC Ne The graph above shows the demand...
2. Consider the following exph (10 marks) Zoom ATC Ne The graph above shows the demand curve (D), marginal cost curve (MC), average cout exurve (AC), and marginal revenue curve (MR) for a monopolist. a) What is the profit maximizing quantity and price for the monopolist? Answer b) If this is a perfectly competitive market, what is the equilibrium quantity and price? Answer: c) What area represents the deadweight loss caused by the monopolist? Answer:
help. agricultural economic 2. Use the following graph to answer the following questions: P/ MC ATC...
help. agricultural economic
2. Use the following graph to answer the following questions: P/ MC ATC /AVC MR 20 2528 50 a. What price is charged by the monopol order to maximize profits? b. Calculate the total revenue accruing to the mo- nopolist at the profit-maximizing output. C. Calculate the total cost to the monopolist at the profit-maximizing output. d. Calculate the profit for the monopolist. e. Calculate the total variable and fixed costs of the monopolist at the profit-maximizing...
Please answer the following 3 questions: Price МС ATC Tmi 5 ---- Quantity/Time MR According to...
Please answer the following 3 questions:
Price МС ATC Tmi 5 ---- Quantity/Time MR According to the above figure, the profit-maximizing output for this monopolist is found directly below the letter e ż O O O O 3 Which of the following would best describe the demand curve faced by a monopoly firm? o vertical line at the output level O same as the market demand curve O same as the perfect competitor's demand curve O horizontal line at the...
[1] INote that AC in the Figure below is ATC] For the following perfectly competitive industry...
[1] INote that AC in the Figure below is ATC] For the following perfectly competitive industry (market) and firm below, assume that P1 $6.80, P2 $3.80, Q1 1200, and Q2 870. Calculate parts (a) (h) below: Indvidual firm Price Industry Price MC Ms AR-MR MS2 P1 AC P2 AR2 MR2 Md Industry Output QFirm's Output (a) At Demand/P1, Firm's Total Revenue (TR) (b) At Demand/P1, Firm's Average Total Cost (ATC) use AC on graph (c) At Demand/P1, Profit (T) (d)...
The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a monopoly...
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. Instructions: Use the tools provided to plot the profit-maximizing quantity (Q), the profit-maximizing price (P), the profit (Profit), and the deadweight loss (DWL). Note that the deadweight loss will be only approximate due to the curvature of the marginal cost curve....
The following graph shows the demand (D) for gas services in the imaginary town of Utilityburg
2. Natural monopoly analysis The following graph shows the demand (D) for gas 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 gas 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.
The following graph shows the marginal cost (MC), marginal revenue (MR), average total cost (ATC), and...
The following graph shows the marginal cost (MC), marginal revenue (MR), average total cost (ATC), and demand (D) for a monopolist. Suppose that this monopolist cannot price discriminate. Place the grey point (starymbol) on the graph to indicate the profit-maximizing price and quantity for this monopolist. If the monopolist is making a profitne the green rectangle (triungle symbols) to shade in the area representing its profit. On the other hand, if the monopolist is suffering a loss use the purple...
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...
Price, cost ATC AVC Quantity Based on the graph the supply curve for the perfectly competitive...
Price, cost ATC AVC Quantity Based on the graph the supply curve for the perfectly competitive firm depicted is most accurately represented by the segment: O O O O Price, cost Quantity Based on the graph above a perfectly competitive firm would never continue operations in short run if the price dropped to which segment of the marginal cost curve? O CE O AD O AC Осо
We were unable to transcribe this imageNow, assume that one of the hot dog stands successfully lobbies the city council to obtain the exclusive right to sell hot dogs within the city limits. This fir...
We were unable to transcribe this imageNow, assume that one of the hot dog stands successfully lobbies the city council to obtain the exclusive right to sell hot dogs within the city limits. This firm buys up all the rest of the hot dog stands in the city and operates as a monopoly. Assume that this change doesn't affect demand and that the new monopoly's marginal cost curve corresponds exactly to the supply curve on the previous graph. Under this...
2. Consider the following exph (10 marks) Zoom ATC Ne The graph above shows the demand curve (D), marginal cost curve (MC), average cout exurve (AC), and marginal revenue curve (MR) for a monopolist. a) What is the profit maximizing quantity and price for the monopolist? Answer b) If this is a perfectly competitive market, what is the equilibrium quantity and price? Answer: c) What area represents the deadweight loss caused by the monopolist? Answer:
help. agricultural economic
2. Use the following graph to answer the following questions: P/ MC ATC /AVC MR 20 2528 50 a. What price is charged by the monopol order to maximize profits? b. Calculate the total revenue accruing to the mo- nopolist at the profit-maximizing output. C. Calculate the total cost to the monopolist at the profit-maximizing output. d. Calculate the profit for the monopolist. e. Calculate the total variable and fixed costs of the monopolist at the profit-maximizing...
Please answer the following 3 questions:
Price МС ATC Tmi 5 ---- Quantity/Time MR According to the above figure, the profit-maximizing output for this monopolist is found directly below the letter e ż O O O O 3 Which of the following would best describe the demand curve faced by a monopoly firm? o vertical line at the output level O same as the market demand curve O same as the perfect competitor's demand curve O horizontal line at the...
[1] INote that AC in the Figure below is ATC] For the following perfectly competitive industry (market) and firm below, assume that P1 $6.80, P2 $3.80, Q1 1200, and Q2 870. Calculate parts (a) (h) below: Indvidual firm Price Industry Price MC Ms AR-MR MS2 P1 AC P2 AR2 MR2 Md Industry Output QFirm's Output (a) At Demand/P1, Firm's Total Revenue (TR) (b) At Demand/P1, Firm's Average Total Cost (ATC) use AC on graph (c) At Demand/P1, Profit (T) (d)...
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. Instructions: Use the tools provided to plot the profit-maximizing quantity (Q), the profit-maximizing price (P), the profit (Profit), and the deadweight loss (DWL). Note that the deadweight loss will be only approximate due to the curvature of the marginal cost curve....
The following graph shows the marginal cost (MC), marginal revenue (MR), average total cost (ATC), and demand (D) for a monopolist. Suppose that this monopolist cannot price discriminate. Place the grey point (starymbol) on the graph to indicate the profit-maximizing price and quantity for this monopolist. If the monopolist is making a profitne the green rectangle (triungle symbols) to shade in the area representing its profit. On the other hand, if the monopolist is suffering a loss use the purple...
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...
Price, cost ATC AVC Quantity Based on the graph the supply curve for the perfectly competitive firm depicted is most accurately represented by the segment: O O O O Price, cost Quantity Based on the graph above a perfectly competitive firm would never continue operations in short run if the price dropped to which segment of the marginal cost curve? O CE O AD O AC Осо
We were unable to transcribe this imageNow, assume that one of the hot dog stands successfully lobbies the city council to obtain the exclusive right to sell hot dogs within the city limits. This firm buys up all the rest of the hot dog stands in the city and operates as a monopoly. Assume that this change doesn't affect demand and that the new monopoly's marginal cost curve corresponds exactly to the supply curve on the previous graph. Under this...
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