A monopolist faces the following demand curve: Q = 80 – 0.2P Where Q is the...
A monopolist faces the following demand curve:
Q = 80 – 0.2P
Where Q is the weekly production and P is the price, measured in $/unit. The firm’s cost function is given by C = 100 + 20Q2 . Assuming the firm maximizes profits,
- Find the equation describing the marginal revenue (MR) curve.
- What is the level of production (Q), price (P), and total profit (π) per week?
- If the government decides to levy a per-unit tax of 50 $/unit on this product, what will be the new level of production (Q), price (P), and total profit (π)?
Homework Answers
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A monopolist faces the following demand curve:
Q = 80 – 0.2P
Where Q is the...
A monopolist faces the following demand curve: Q = 260-2P Where Q is the weekly production...
A monopolist faces the following demand curve: Q = 260-2P Where Q is the weekly production and P is the price, measured in $/unit. The firm's cost function is given by C= 20 + 10Q+Q2. Assuming the firm maximizes profits, 1. (10 pts) Find the equation describing the marginal revenue (MR) curve. 2. (20 pts) What is the level of production (Q), price (P), and total profit (TT) per week? 3. (20 pts) If the government decides to levy a...
Exercise 2. A monopolist faces the following demand curve: Q 10,000 100P Where Q is the...
Exercise 2. A monopolist faces the following demand curve: Q 10,000 100P Where Q is the weekly production and P is the price, measured in S/unit. The firm's cost function is given by C 50Q 30,000. Assuming the firm maximizes profits a. Find the equation describing the marginal revenue curve b. What is the level of production, price, and total profit per week? c. If the government decides to levy a tax of 10 $/unit on this product, what will...
A firm faces the following average revenue (demand) curve: P = 130 - 0.02 where Q...
A firm faces the following average revenue (demand) curve: P = 130 - 0.02 where Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by C = 50Q + 20,000. Assume that the firm maximizes profits. a. What is the level of production, price, and total profit per week? (Round all responses to two decimal places.) The equilibrium quantity is 2000 units, the price is 90 cents, and the total...
A monopolist faces a market demand curve given by
A monopolist faces a market demand curve given by Q=70-P a. If the monopolist can produce at constant average and marginal costs ofAC-MC-6, what output level will the monopolist choose to maximize profits? What is the price at this output level? What are the monopolist's profits? b. Assume instead that the monopolist has a cost structure where total costs are described by C(Q) = 0.25Q2 - 5Q + 300. With the monopolist facing the same market demand and marginal revenue, what price-quantity combination will be chosen now...
Scenario A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for...
Scenario A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its product: Q=3500-5p MR= 250-Q TC=15Q MC=100 What level of output maximizes total revenue? What is the profit maximizing level of output? What is profit maximizing price? How much profit does the monopolist earn? Suppose that a tax of $10 for each unit produced is imposed by state government. What is the profit maximizing level of output
A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its...
A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its product: Q=3500-5p MR= 250-Q TC=15Q MC=100 What level of output maximizes total revenue? What is the profit-maximizing level of output? What is the profit-maximizing price? How much profit does the monopolist earn? Suppose that a tax of $10 for each unit produced is imposed by the state government. What is the profit-maximizing level of output?
A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its product
Scenario A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its product: Q=3500-5p MR= 250-Q TC=150 MC=100 What level of output maximizes total revenue? What is the profit maximizing level of output? What is profit maximizing price? How much profit does the monopolist earn? Suppose that a tax of $10 for each unit produced is imposed by state government. What is the profit maximizing level of output
A firm faces the following average revenue (demand) curve: P = 120 – 0.02Q where Q...
A firm faces the following average revenue (demand) curve: P = 120 – 0.02Q where Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by TC = 60Q + 25,000. Assume that the firm maximizes profits. Calculate the level of production, price, and total profit per week.
A firm faces the following average revenue (demand) curve: P= 135 -0.020 where Q is weekly...
A firm faces the following average revenue (demand) curve: P= 135 -0.020 where Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by C = 50Q + 25,000 Assume that the firm maximizes profits. a. What is the level of production, price, and total profit per week? (Round all responses to two decimal places.) The equilibrium quantity is units, the price is cents, and the total profit is $ per...
A firm faces the following average revenue (demand) curve: P= 125 -0.02Q where Q is weekly...
A firm faces the following average revenue (demand) curve: P= 125 -0.02Q where Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by C = 45Q + 20,000. Assume that the firm maximizes profits. a. What is the level of production, price, and total profit per week? (Round all responses to two decimal places.) The equilibrium quantity is units, the price is cents, and the total profit is $ per...
A monopolist faces the following demand curve: Q = 260-2P Where Q is the weekly production and P is the price, measured in $/unit. The firm's cost function is given by C= 20 + 10Q+Q2. Assuming the firm maximizes profits, 1. (10 pts) Find the equation describing the marginal revenue (MR) curve. 2. (20 pts) What is the level of production (Q), price (P), and total profit (TT) per week? 3. (20 pts) If the government decides to levy a...
Exercise 2. A monopolist faces the following demand curve: Q 10,000 100P Where Q is the weekly production and P is the price, measured in S/unit. The firm's cost function is given by C 50Q 30,000. Assuming the firm maximizes profits a. Find the equation describing the marginal revenue curve b. What is the level of production, price, and total profit per week? c. If the government decides to levy a tax of 10 $/unit on this product, what will...
A firm faces the following average revenue (demand) curve: P = 130 - 0.02 where Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by C = 50Q + 20,000. Assume that the firm maximizes profits. a. What is the level of production, price, and total profit per week? (Round all responses to two decimal places.) The equilibrium quantity is 2000 units, the price is 90 cents, and the total...
Scenario A: A monopolist faces the following demand curve, marginal revenue curve, total cost curve for its product: Q=3500-5p MR= 250-Q TC=15Q MC=100 What level of output maximizes total revenue? What is the profit maximizing level of output? What is profit maximizing price? How much profit does the monopolist earn? Suppose that a tax of $10 for each unit produced is imposed by state government. What is the profit maximizing level of output
A firm faces the following average revenue (demand) curve: P= 135 -0.020 where Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by C = 50Q + 25,000 Assume that the firm maximizes profits. a. What is the level of production, price, and total profit per week? (Round all responses to two decimal places.) The equilibrium quantity is units, the price is cents, and the total profit is $ per...
A firm faces the following average revenue (demand) curve: P= 125 -0.02Q where Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by C = 45Q + 20,000. Assume that the firm maximizes profits. a. What is the level of production, price, and total profit per week? (Round all responses to two decimal places.) The equilibrium quantity is units, the price is cents, and the total profit is $ per...
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