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Long Problems-SHOW WORK OR...
Perfect price discrimination a.increases profits to the firm. b.increases total surplus. c.decreases consumer surplus. d.All of...
Perfect price discrimination a.increases profits to the firm. b.increases total surplus. c.decreases consumer surplus. d.All of the above are correct. For a firm to price discriminate, a.it must be a natural monopoly. b.it must be regulated by the government. c.it must have some market power. d.consumers must tell the firm what they are willing to pay for the product. A monopoly's marginal cost will a.be less than its average fixed cost. b.be less than the price per unit of its...
Hello, this is a Micro Economic problems Could you please be kind enough and solve all of problems with the explanation in detail? Thank you and have a good one! 1. Suppose a firm has market power an...
Hello, this is a Micro Economic problems Could you please be kind enough and solve all of problems with the explanation in detail? Thank you and have a good one! 1. Suppose a firm has market power and faces a downward sloping demand curve for its product, and its marginal cost curve is upward sloping. If the firm reduces its price, then: A) consumer and producer surplus must increase. B) consumer surplus increases, producer surplus may increase or decrease. consumer...
Part E-H Assume a profit-maximizing monopolist faces a market demand given by P = (12,000 –...
Part E-H Assume a profit-maximizing monopolist faces a market demand given by P = (12,000 – 90Q)/100 and long run total and marginal cost given by LRTC = 5Q + Q2 + 40 (Note: The answer to this question must be hand-written.): a) Find the equation of the marginal revenue curve corresponding to the market demand curve. b) Find the equation for the marginal cost function. c) Find the profit-maximizing quantity of output for the monopoly and the price the...
1. Suppose that a single-price monopolist faces the demand function P 100 Q where I is...
1. Suppose that a single-price monopolist faces the demand function P 100 Q where I is average weekly household income, and that the firm's marginal cost function is given by MC(Q) 2Q. The firm has no fixed costs. = (a) If the average weekly household income is $600, find the firm's marginal revenue function. (b) What is the firm's profit-maximizing quantity of output? At what price will the firm sell that output? What will the firm's marginal cost be? (c)...
I need step by step solution to the following this question asap .I have limited time...
I need step by step solution to the following this question asap
.I have limited time so please do it quickly with detailed
explanation
thanks in advance/Ha
a) A monopolist faces two totally separated markets with inverse demand p=100 – 9a and p=160 – 298 respectively. The monopolist has no fixed costs and a marginal cost given by mc=q . Find the profit maximizing total output and how much of it that is sold on market A and market B...
I will give you thumb up! Hello, this is a Micro Economic problems. Could you please...
I will give you thumb up!
Hello, this is a Micro Economic problems. Could you please be kind enough and solve all of problems with the explanation in detail? Thank you and have a good one! A monopolist has determined that at the current level of output the price elasticity of demand is -0.15. Which of the following statements is true? A) The firm should cut output. B) This is typical for a monopolist, output should not be altered. C)...
Demand Schedule and Total Costs. Can I get some help starting at question 2 and the...
Demand Schedule and Total Costs. Can I get some help starting at
question 2 and the questions following it.
a. If the monopolist maximizes profits, what price does it charge? b. What quantity is produced? c. What are the monopolist's profits? Molly's blooms, the only florist in town, is a monopoly. Molly faces the following demand schedule: 2. Quantity Demanded Total Revenue 0 1 Marginal Revenue Price 12 10 9 4 6 Molly's has the following total costs: Total Cost...
please answer all questions! Figure 15-6 Price $20+ Marginal Cost 100 150 200 Quantity Marginal Revenue...
please answer all questions!
Figure 15-6 Price $20+ Marginal Cost 100 150 200 Quantity Marginal Revenue Refer to Figure 15-6. What is the deadweight loss caused by a profit-maximizing monopoly? O O $150 $200 $250 Os300 A monopolist faces market demand given by P - 60 - Q. For this market, MR = 90 - 2Q and MC - Q. What price will the monopolist charge in order to maximize profits? O $20 O $30 O so Osso In Canada,...
PLZ HELP(3 problems)???? QUESTION 7 A monopolist can usually keep price equal to marginal revenue by...
PLZ HELP(3 problems)???? QUESTION 7 A monopolist can usually keep price equal to marginal revenue by lowering the price on the last unit sold only. is constrained in its pricing decisions by the demand curve it faces. faces a demand curve that is more elastic than the demand curve for the industry. can charge whatever price it wants because it is the only firm producing the good 10.Shortly after the turn of the century, U.S. Steel owned most of the...
PART VI. Problems. Solve the following problems. Please show your work, especially how you calculate a)...
PART VI. Problems. Solve the following problems. Please show your work, especially how you calculate a) marginal revenue, the b) profit maximizing quantity and price, c) the Cournot reaction function [best response functions) and the Stackelberg model. (3 points for each problem.) 33. A regulated monopoly faces the following demand for its product, P = 68 - 4Q, and has a marginal cost of MC = 20. Q is the quantity sold and P is the price. a. Under regulation,...
Perfect price discrimination a.increases profits to the firm. b.increases total surplus. c.decreases consumer surplus. d.All of the above are correct. For a firm to price discriminate, a.it must be a natural monopoly. b.it must be regulated by the government. c.it must have some market power. d.consumers must tell the firm what they are willing to pay for the product. A monopoly's marginal cost will a.be less than its average fixed cost. b.be less than the price per unit of its...
Hello, this is a Micro Economic problems Could you please be kind enough and solve all of problems with the explanation in detail? Thank you and have a good one! 1. Suppose a firm has market power and faces a downward sloping demand curve for its product, and its marginal cost curve is upward sloping. If the firm reduces its price, then: A) consumer and producer surplus must increase. B) consumer surplus increases, producer surplus may increase or decrease. consumer...
1. Suppose that a single-price monopolist faces the demand function P 100 Q where I is average weekly household income, and that the firm's marginal cost function is given by MC(Q) 2Q. The firm has no fixed costs. = (a) If the average weekly household income is $600, find the firm's marginal revenue function. (b) What is the firm's profit-maximizing quantity of output? At what price will the firm sell that output? What will the firm's marginal cost be? (c)...
I need step by step solution to the following this question asap
.I have limited time so please do it quickly with detailed
explanation
thanks in advance/Ha
a) A monopolist faces two totally separated markets with inverse demand p=100 – 9a and p=160 – 298 respectively. The monopolist has no fixed costs and a marginal cost given by mc=q . Find the profit maximizing total output and how much of it that is sold on market A and market B...
I will give you thumb up!
Hello, this is a Micro Economic problems. Could you please be kind enough and solve all of problems with the explanation in detail? Thank you and have a good one! A monopolist has determined that at the current level of output the price elasticity of demand is -0.15. Which of the following statements is true? A) The firm should cut output. B) This is typical for a monopolist, output should not be altered. C)...
Demand Schedule and Total Costs. Can I get some help starting at
question 2 and the questions following it.
a. If the monopolist maximizes profits, what price does it charge? b. What quantity is produced? c. What are the monopolist's profits? Molly's blooms, the only florist in town, is a monopoly. Molly faces the following demand schedule: 2. Quantity Demanded Total Revenue 0 1 Marginal Revenue Price 12 10 9 4 6 Molly's has the following total costs: Total Cost...
please answer all questions!
Figure 15-6 Price $20+ Marginal Cost 100 150 200 Quantity Marginal Revenue Refer to Figure 15-6. What is the deadweight loss caused by a profit-maximizing monopoly? O O $150 $200 $250 Os300 A monopolist faces market demand given by P - 60 - Q. For this market, MR = 90 - 2Q and MC - Q. What price will the monopolist charge in order to maximize profits? O $20 O $30 O so Osso In Canada,...
PART VI. Problems. Solve the following problems. Please show your work, especially how you calculate a) marginal revenue, the b) profit maximizing quantity and price, c) the Cournot reaction function [best response functions) and the Stackelberg model. (3 points for each problem.) 33. A regulated monopoly faces the following demand for its product, P = 68 - 4Q, and has a marginal cost of MC = 20. Q is the quantity sold and P is the price. a. Under regulation,...
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