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Question 3 7 pts A firm has the following demand function: Qd = 312 - P/2....
Question 3 Afirm has the following demand function Qd = 312 -P/2. Its average total cost...
Question 3 Afirm has the following demand function Qd = 312 -P/2. Its average total cost and marginal cost are constant at $92. 1. (1 point) What is the per-unit price the firm will charge if it uses two-part pricing? 2. (3 points) What is the profit-maximizing output if the firm uses two-part pricing? You must show your work to receive credit for this question 3.(3 points) What is the firm's profit if it uses two-part pricing? You must show...
A monopoly firm faces the following demand curve: P = 25-2.5 QD. 1)Create the demand schedule...
A monopoly firm faces the following demand curve: P = 25-2.5 QD. 1)Create the demand schedule for the firm by increasing quantity demanded in increments of one unit. 2)Produce a table with the total revenue and marginal revenue for the output levels in increments of one unit. 3)If the firm’s marginal cost is constant at $12.50 per unit, what is the profit maximizing output and price? 4)What is the efficient quantity and price? 5)What is the value of the deadweight...
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700 9Q The firm's...
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700 9Q The firm's total cost is given by C() 11,000+9000 (a) Show your work in solving for the firm's profit-maximizing quantity and price. What is the maximized value of profit? (b) Plot this firm's revenue and total cost functions. Illustrate the profit-maximizing quantity on this graph, as well as the firm's maximized profit level (c) Now plot this firm's inverse demand, marginal revenue, and marginal cost curves....
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700-9Q. The firm's total...
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700-9Q. The firm's total cost is given by c(Q) 11,000+900Q (a) Show your work in solving for the firm's profit-maximizing quantity and price. What is (b) Plot this firm's revenue and total cost functions. Illustrate the profit-maximizing quantity (c) Now plot this firm's inverse demand, marginal revenue, and marginal cost curves. Il- the maximized value of profit? on this graph, as well as the firm's maximized profit level....
Question 2: A monopolistic firm produces goods in a market where the demand function is P...
Question 2: A monopolistic firm produces goods in a market where the demand function is P = 43 - 0.3Q and the corresponding total cost function is TC =0.0103 – 0.4Q2 +3Q (a) What can you say about the fixed costs of this firm? (b What can you say about the variable costs of this firm? (c) Find the (non-zero) output for which average cost is equal to marginal cost, and explain the significance of this value. (d Find the...
2. Suppose that a firm faces the demand curve, P 300-4Q, where P denotes price in...
2. Suppose that a firm faces the demand curve, P 300-4Q, where P denotes price in dollars and Q denotes total unit sales. The cost equation is TC 300 +92Q. a.Determine the firm's profit-maximizing output and price. 2 points b. Gven the output (Q) value from part a, compute Total cost and Marginal cost when the cost equation is TC 300 +92Q: 1 point c. Suppose that there is a change in the production process so that the cost equation...
2. Suppose that a firm faces the demand curve. P 300-40. where P denotes price in...
2. Suppose that a firm faces the demand curve. P 300-40. where P denotes price in dollars and O denotes total unit sales. The cost equation is TC 300+92Q. a. Determine the firm's profit-maximizing output and price. 2 points b. Given the output (Q) value from part a, compute Total cost and Marginal cost when the cost equation is TC 300+92Q: 1 point c. Suppose that there is a change in the production process so that the cost equation becomes...
The average consumer at a firm with market power has an inverse demand function of P...
The average consumer at a firm with market power has an inverse demand function of P = 10 - Q. The firm's marginal cost is 2. If the firm decides to introduce two-part pricing, what should be optimal price to charge a consumer for each unit purchased? A. 2 B. 8 C.16 D.24
The average consumer at a firm with market power has an inverse demand function of P...
The average consumer at a firm with market power has an inverse demand function of P = 10 - Q. The firm's marginal cost is 2. If the firm decides to introduce two-part pricing, what should be optimal price to charge a consumer for each unit purchased? A=2 B=8 C=16 D=24
With which of the following does the firm identify a key quantity by setting marginal cost...
With which of the following does the firm identify a key quantity by setting marginal cost equal to price? two-part pricing and third-degree price discrimination block pricing and commodity bundling O block pricing and two-part pricing first degree price discrimination (continuous variable case) and commodity bundling second-degree price discrimination and third-degree price discrimination Question 25 1 pts Assume the inverse demand function for a Bertrand oligopoly is P = 500 - Q/5, and that the firm's total cost function is...
Question 3 Afirm has the following demand function Qd = 312 -P/2. Its average total cost and marginal cost are constant at $92. 1. (1 point) What is the per-unit price the firm will charge if it uses two-part pricing? 2. (3 points) What is the profit-maximizing output if the firm uses two-part pricing? You must show your work to receive credit for this question 3.(3 points) What is the firm's profit if it uses two-part pricing? You must show...
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700 9Q The firm's total cost is given by C() 11,000+9000 (a) Show your work in solving for the firm's profit-maximizing quantity and price. What is the maximized value of profit? (b) Plot this firm's revenue and total cost functions. Illustrate the profit-maximizing quantity on this graph, as well as the firm's maximized profit level (c) Now plot this firm's inverse demand, marginal revenue, and marginal cost curves....
Consider a monopolist firm facing an inverse demand curve given by P(Q) 2700-9Q. The firm's total cost is given by c(Q) 11,000+900Q (a) Show your work in solving for the firm's profit-maximizing quantity and price. What is (b) Plot this firm's revenue and total cost functions. Illustrate the profit-maximizing quantity (c) Now plot this firm's inverse demand, marginal revenue, and marginal cost curves. Il- the maximized value of profit? on this graph, as well as the firm's maximized profit level....
Question 2: A monopolistic firm produces goods in a market where the demand function is P = 43 - 0.3Q and the corresponding total cost function is TC =0.0103 – 0.4Q2 +3Q (a) What can you say about the fixed costs of this firm? (b What can you say about the variable costs of this firm? (c) Find the (non-zero) output for which average cost is equal to marginal cost, and explain the significance of this value. (d Find the...
2. Suppose that a firm faces the demand curve, P 300-4Q, where P denotes price in dollars and Q denotes total unit sales. The cost equation is TC 300 +92Q. a.Determine the firm's profit-maximizing output and price. 2 points b. Gven the output (Q) value from part a, compute Total cost and Marginal cost when the cost equation is TC 300 +92Q: 1 point c. Suppose that there is a change in the production process so that the cost equation...
2. Suppose that a firm faces the demand curve. P 300-40. where P denotes price in dollars and O denotes total unit sales. The cost equation is TC 300+92Q. a. Determine the firm's profit-maximizing output and price. 2 points b. Given the output (Q) value from part a, compute Total cost and Marginal cost when the cost equation is TC 300+92Q: 1 point c. Suppose that there is a change in the production process so that the cost equation becomes...
With which of the following does the firm identify a key quantity by setting marginal cost equal to price? two-part pricing and third-degree price discrimination block pricing and commodity bundling O block pricing and two-part pricing first degree price discrimination (continuous variable case) and commodity bundling second-degree price discrimination and third-degree price discrimination Question 25 1 pts Assume the inverse demand function for a Bertrand oligopoly is P = 500 - Q/5, and that the firm's total cost function is...
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