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2. Consider a market with one firm. The firm's cost function is c(g)-2, and the market...
1. [20] A monopolist with cost function c(Q) = 2 faces a consumer whose demand functions...
1. [20] A monopolist with cost function c(Q) = 2 faces a consumer whose demand functions are given by. 01 20 P and Q2 40 2P. (a) 5] Suppose the monopolist cannot engage in any price discrimination. Find the firm's optimal pricing strategy. Calculate the firm's Lerner index. (b) 15) What is the deadweight loss (relative to the competitive market out- come) associated with this pricing strategy, if any? (c) 15) Now, suppose price discrimination is possible. Find the monopolist's...
1. (0 A monopolist with cost function e(Q)-jo* faces a consumer whose demand functions are given...
1. (0 A monopolist with cost function e(Q)-jo* faces a consumer whose demand functions are given by (a) [51 Suppose the monopolist cannot engage in any price discrimination. (b) [5) What is the deadweight loss (relative to the competitive market out (c) [5] Now, suppose price discrimination is possible. Find the monopolist's (d) [51 What information is required for the monopolist to be able to use Qi=20-P and Q-40-2P. Find the firm's optimal pricing strategy. Calculate the firm's Lerner index....
Microeconomics [20] A monopolist with cost function c(Q) demand functions are given by. faces a consumer...
Microeconomics
[20] A monopolist with cost function c(Q) demand functions are given by. faces a consumer whose Q1=20-P and Q2-40-2P. (a) [5] Suppose the monopolist cannot engage in any price discrimination. Find the firm's optimal pricing strategy. Calculate the firm's Lerner index. come) associated with this pricing strategy, if any? optimal third-degree price-discrimination strategy. Which consumer is (b) [5] What is the deadweight loss (relative to the competitive market out- (c) [5] Now, suppose price discrimination is possible. Find the...
20y25 Consider a product that has a cost function c(y) (А-р) Demand for this product is...
20y25 Consider a product that has a cost function c(y) (А-р) Demand for this product is represented by the demand curve: y (NOTE: this the demand curve, not the inverse demand curve) 1) Write the profit maximization problem for a monopolist 2) Use the envelope theorem to determine whether the monopolist's profits will increase or decrease with b. C 3)What is the elasticity of demand (in terms of p)? What restriction must be on the elasticity of demand for a...
2. Social Welfare Suppose the market of a good has linear market demand as Q 120-P....
2. Social Welfare Suppose the market of a good has linear market demand as Q 120-P. A firm in the (a) Find the profit-maximized price, output quantity, and profit of the firm under (b) Find the profit-maximized price, output quantity, and profit of the firm under c)Calculate the consumer surplus under the two cases and compare your results market has the total cost of production as C-200 perfect competition monopoly. What is the dead weight loss of the market due...
A firm's market demand for its product in the company’s country, a, is given by Qa(Pa)...
A firm's market demand for its product in the company’s country, a, is given by Qa(Pa) = 1,050 − 4Pa, where Qa is the quantity of products produced per year and Pa is the price product. Cost of producing this product is ?(Q) = 70,125 + 0.0125Q2. This implies a marginal cost of production of ?C(q) = 0.025Q. a) Find the profit-maximizing price and quantity. Compute the firm’s profit in this case. Should the firm shut down in the short...
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...
2. Consider a dominant firm in a market with a competitive fringe. The market demand curve...
2. Consider a dominant firm in a market with a competitive fringe. The market demand curve is given by P = 100 − Q.The supply curve of the competitive fringe is perfectly elastic and given by P=Pf. The dominant firm has a marginal cost c where Pf > c (a) For what value of Pf is the presence of the competitive fringe binding on the dominant firm? (b) Suppose the dominant firm has c = 0 and the competitive fringe...
The inverse demand curve for a firm with market power is P = 120 – Q,...
The inverse demand curve for a firm with market power is P = 120 – Q, and its marginal cost is given by MC = 2Q. If the firm is able to practice perfect first-degree price discrimination (instead of behaving as a single-price monopolist), the deadweight loss will _________ (increase or decrease) from $ _______ to $ _______ .
A monopolist firm has the cost function c(y)=3y2 The market demand for the monopolist's product is...
A monopolist firm has the cost function c(y)=3y2 The market demand for the monopolist's product is given by D(p=10 – 0.5p What are the firm's profits?
1. [20] A monopolist with cost function c(Q) = 2 faces a consumer whose demand functions are given by. 01 20 P and Q2 40 2P. (a) 5] Suppose the monopolist cannot engage in any price discrimination. Find the firm's optimal pricing strategy. Calculate the firm's Lerner index. (b) 15) What is the deadweight loss (relative to the competitive market out- come) associated with this pricing strategy, if any? (c) 15) Now, suppose price discrimination is possible. Find the monopolist's...
1. (0 A monopolist with cost function e(Q)-jo* faces a consumer whose demand functions are given by (a) [51 Suppose the monopolist cannot engage in any price discrimination. (b) [5) What is the deadweight loss (relative to the competitive market out (c) [5] Now, suppose price discrimination is possible. Find the monopolist's (d) [51 What information is required for the monopolist to be able to use Qi=20-P and Q-40-2P. Find the firm's optimal pricing strategy. Calculate the firm's Lerner index....
Microeconomics
[20] A monopolist with cost function c(Q) demand functions are given by. faces a consumer whose Q1=20-P and Q2-40-2P. (a) [5] Suppose the monopolist cannot engage in any price discrimination. Find the firm's optimal pricing strategy. Calculate the firm's Lerner index. come) associated with this pricing strategy, if any? optimal third-degree price-discrimination strategy. Which consumer is (b) [5] What is the deadweight loss (relative to the competitive market out- (c) [5] Now, suppose price discrimination is possible. Find the...
20y25 Consider a product that has a cost function c(y) (А-р) Demand for this product is represented by the demand curve: y (NOTE: this the demand curve, not the inverse demand curve) 1) Write the profit maximization problem for a monopolist 2) Use the envelope theorem to determine whether the monopolist's profits will increase or decrease with b. C 3)What is the elasticity of demand (in terms of p)? What restriction must be on the elasticity of demand for a...
2. Social Welfare Suppose the market of a good has linear market demand as Q 120-P. A firm in the (a) Find the profit-maximized price, output quantity, and profit of the firm under (b) Find the profit-maximized price, output quantity, and profit of the firm under c)Calculate the consumer surplus under the two cases and compare your results market has the total cost of production as C-200 perfect competition monopoly. What is the dead weight loss of the market due...
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...
A monopolist firm has the cost function c(y)=3y2 The market demand for the monopolist's product is given by D(p=10 – 0.5p What are the firm's profits?
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