Homework Answers
11.3 : Correct answer : option e) : 1000
Reason : 10 ×100 = 1000
15.2 : correct answer: option e ) : 24 to 18 and quantity will increase from 5 to 8 units
Reason : This is because earlier 24 wad the price corresponding to the MR = MC output of 5 units and later it will change ot price of 18 that occurs at the point whem AR = MC and quantity is 8 units corresponding to it.
Please advise, question 32. Exhibit 9.12 d c MR 0 Quantity per periodi 32. Refer to...
Please advise, question 32.
Exhibit 9.12 d c MR 0 Quantity per periodi 32. Refer to Exhibit 9.12, which shows the cost and revenue curves faced by a profit-maximizing monopolist. Under the monopolist, consumer surplus occurs at the area a. adp" b. dbc с. аср d. pbdp e. below D 33. Suppose ten pretzels are sold at a price of $8 each and the marginal product of the last unit of labor required to produce pretzels is 5 units. The...
do you know how?? Exhibit 10-7 Quantity Sold Price (units) Total Cost $10 100 $600 1,100...
do you know how??
Exhibit 10-7 Quantity Sold Price (units) Total Cost $10 100 $600 1,100 200 91400 300 8 7 400 500 600 700 1,800 2,400 3,200 4.200 5 4 Refer to Exhibit 10-7. A single-price monopolist earns a total profit of when it produces the profit maximizing level of output. $120 $1,000 $1,800 O $700 e $500
55 Exhibit 9.6 $/0 MC ATC 5866 6.66 4.60 2.00 --- ---- HR Q/ 10 55....
55
Exhibit 9.6 $/0 MC ATC 5866 6.66 4.60 2.00 --- ---- HR Q/ 10 55. Refer to Exhibit 9.6, which shows the cost and revenue curves for a monopolist. The profit-maximizing output for this non-discriminating monopolist is a. 0 units. b. 7 units. c. 10 units. d. more than 10 units. e. less than 7 units but more than 0 units.
Exhibit 24-10 Quantity Sold Price (units) Total Cost $10 10 $80 9 20 100 8 30...
Exhibit 24-10 Quantity Sold Price (units) Total Cost $10 10 $80 9 20 100 8 30 130 7 40 170 6 50 230 5 60 300 4 70 380 Refer to Exhibit 24-9. A single-price monopolist earns a total profit of __________ when it produces and sells 40 units of its good. Group of answer choices $80. $110. $30. $61. $49.
23.24 Exhibit 9.7 s/a 700 810 884 976 1,000 o/t 23. Refer to Exhibit 9.7, which shows the cost and revenue curves fo...
23.24
Exhibit 9.7 s/a 700 810 884 976 1,000 o/t 23. Refer to Exhibit 9.7, which shows the cost and revenue curves for a monopolist. The output level that is most likely to achieve allocative efficiency in this market is a. 700 units. b. 810 units. c. 884 units. d. 976 units. e. 1,000 units. 24. In resource markets, a. firms demand the resources that maximize profit. b. firms demand the resources that minimize profit. c. firms supply the resources...
Help on the Microecononomics questions please Exhibit 23-9 Refer to Exhibit 23-9. Suppose that the market...
Help on the Microecononomics questions please Exhibit 23-9 Refer to Exhibit 23-9. Suppose that the market starts out at long-run competitive equilibrium with price equal to P1 and producing Q1 output, and then demand increases from D1 to D2. As a consequence, the typical profit-maximizing firm will a. increase quantity produced by (q2 - q1). b. decrease quantity produced by (q2 - q1). c. decrease quantity produced by (q1 - q3). d. not change its output level because the demand...
Exhibit 22-8 Fim A Price 10 AC AVC 070 90 100 1 100 150 200 Quantity...
Exhibit 22-8 Fim A Price 10 AC AVC 070 90 100 1 100 150 200 Quantity Refer to Exhibit 22-8. What is the total variable cost of firm A at the profit-maximizing (or loss-minimizing) level of production? 0 a. S 1,000 O b. $400 c. S300 O d. $700 MacBook Air
Exhibit 10.5 Exhibit 10.5 shows the demand, marginal revenue, and cost curves for a monopolistic competitor....
Exhibit 10.5
Exhibit 10.5 shows the demand, marginal revenue, and cost curves
for a monopolistic competitor. The monopolistic competitor's
profit-maximizing level of output is _____.
A) 137.5 units
B) 75 units
C) 125 units
D) 100 units
E) 150 units
Price 23 - ---- - - - - -- - 9 12 Quantin 15 MR Optimal output and price for the nondiscriminating monopolist in Exhibit 9-5 are 15 and $15 O 15 and $13 o 9 and $23 12 and...
Exhibit 8-7 A firm's cost and MR curves In Exhibit 8-7, if this firm is currently producing 20 units of output, this...
Exhibit 8-7 A firm's cost and MR curves In Exhibit 8-7, if this firm is currently producing 20 units of output, this firm: Group of answer choices A. is at its profit-maximizing point. B. could increase profits by increasing output. C. could increase profits by decreasing output. D. should shut down. E. should decrease price. Cost, 25 MR revenues 22 (dollars) 20 Quantity
Please advise, question 32.
Exhibit 9.12 d c MR 0 Quantity per periodi 32. Refer to Exhibit 9.12, which shows the cost and revenue curves faced by a profit-maximizing monopolist. Under the monopolist, consumer surplus occurs at the area a. adp" b. dbc с. аср d. pbdp e. below D 33. Suppose ten pretzels are sold at a price of $8 each and the marginal product of the last unit of labor required to produce pretzels is 5 units. The...
do you know how??
Exhibit 10-7 Quantity Sold Price (units) Total Cost $10 100 $600 1,100 200 91400 300 8 7 400 500 600 700 1,800 2,400 3,200 4.200 5 4 Refer to Exhibit 10-7. A single-price monopolist earns a total profit of when it produces the profit maximizing level of output. $120 $1,000 $1,800 O $700 e $500
55
Exhibit 9.6 $/0 MC ATC 5866 6.66 4.60 2.00 --- ---- HR Q/ 10 55. Refer to Exhibit 9.6, which shows the cost and revenue curves for a monopolist. The profit-maximizing output for this non-discriminating monopolist is a. 0 units. b. 7 units. c. 10 units. d. more than 10 units. e. less than 7 units but more than 0 units.
23.24
Exhibit 9.7 s/a 700 810 884 976 1,000 o/t 23. Refer to Exhibit 9.7, which shows the cost and revenue curves for a monopolist. The output level that is most likely to achieve allocative efficiency in this market is a. 700 units. b. 810 units. c. 884 units. d. 976 units. e. 1,000 units. 24. In resource markets, a. firms demand the resources that maximize profit. b. firms demand the resources that minimize profit. c. firms supply the resources...
Exhibit 22-8 Fim A Price 10 AC AVC 070 90 100 1 100 150 200 Quantity Refer to Exhibit 22-8. What is the total variable cost of firm A at the profit-maximizing (or loss-minimizing) level of production? 0 a. S 1,000 O b. $400 c. S300 O d. $700 MacBook Air
Exhibit 10.5
Exhibit 10.5 shows the demand, marginal revenue, and cost curves
for a monopolistic competitor. The monopolistic competitor's
profit-maximizing level of output is _____.
A) 137.5 units
B) 75 units
C) 125 units
D) 100 units
E) 150 units
Price 23 - ---- - - - - -- - 9 12 Quantin 15 MR Optimal output and price for the nondiscriminating monopolist in Exhibit 9-5 are 15 and $15 O 15 and $13 o 9 and $23 12 and...
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