Homework Answers
Answer- True
Monopolist has single power in the market and therefore can manipulate the price and earn maximum profit. It will produce the quantity of output where marginal cost is equal to marginal revenue and then charging the price greater than marginal cost. ( marginal cost = marginal revenue)
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Question 10 (Mandatory) (1 point) The single-price monopolist produces the quantity of output at which marginal...
marginal revenue A monopolist maximizes profit by choosing the quantity at which marginal revenue equals at...
marginal revenue A monopolist maximizes profit by choosing the quantity at which marginal revenue equals at that quantity because the demand curve is above the marginal-revenue curve. Profit equals mulitplied by the profit-maximizing quantity Price is and marginal cost average variable cost average cost marginal revenue. A monopolist maximizes profit by choosing the quantity at which marginal revenue equals Price is at that quantity because the demand curve is above the marginal-revenue curve. Profit equals the difference between the price...
Question 1 (Mandatory) (5 points) Saved If at an output of 10 units a monopolist is...
Question 1 (Mandatory) (5 points) Saved If at an output of 10 units a monopolist is earning a positive profit, marginal revenue is $6, and marginal cost is $4, then the monopolist A) is in equilibrium. B) should increase output. C) should reduce output. D) should raise the price at the current output level. Question 40 (Mandatory) (5 points) The marginal revenue product of a resource measures OA) the additional cost to a firm of employing one more unit of...
monopolist is a price maker. he will determine the quantity of output that will maximize revenue....
monopolist is a price maker. he will determine the quantity of output that will maximize revenue. the monopolistic faces a downward sloping demand curve because he can sell more if he lowers the price. the profit maximizing price and output is where marginal revenue equals marginal cost, then it is extended to the market demand curve to determine what market price corresponds to that quantity. the profit maximization price is c and quantity is q.
A monopolist maximizes profits by choosing that output and price at which: (CHOSE ONE OF THE...
A monopolist maximizes profits by choosing that output and price at which: (CHOSE ONE OF THE FOLLOWING) marginal cost is equal to or comes as close as possible to (without exceeding) the marginal revenue. This is given that the price is greater than the average variable cost, and that the marginal cost is rising at the profit-maximizing output. average variable cost is equal to or comes as close as possible to (without exceeding) the marginal revenue. This is given that...
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total...
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 17 10 19 9 8 21 8 9 23 7 10 25 7 Reference: Ref 13-2 to the table. When this monopolist sells 8 units, its average cost and marginal cost levels are: (Table: Profit-Maximizing Monopolist) A. $2.56 and $2 respectively. B. $2.63 and $2 respectively. C. $2.56 and 54 respectively. OD. $2.63 and 54 respectively.
Question 41 (1 point) 15 15- 10 10- 5 5. D 1 VIRD 1 Q 5...
Question 41 (1 point) 15 15- 10 10- 5 5. D 1 VIRD 1 Q 5 10 15 MR 5 10 Residential Business The above figure shows the demand curves of two segment of customers-residential and business for electricity. For an electricity utility company, it will be possible to price discriminate because elasticities differ across markets. electricity cannot be resold easily. It is easy to identify which consumers belong to which segment. All of the above. Question 42 (1 point)...
1A Marginal revenue for a monopoly firm is: not related to the price that the monopolist...
1A Marginal revenue for a monopoly firm is: not related to the price that the monopolist charges for its products. less than the price that the monopolist charges for its products. always greater than the price that the monopolist charges for its products. equal to the price that the monopolist charges for its products. 1B Regarding monopoly firms, our text concludes that: firms which have been granted monopoly status by a government are less-efficient and provide a lower-quality and higher-priced...
1) 1) A single-price monopolist is currently producing an output level where P-520, MR = $13,...
1) 1) A single-price monopolist is currently producing an output level where P-520, MR = $13, ATC = $15, and MC = $14. In order to maximize profits, this monopolist should A) shut down B) decrease production and increase price. C) not change his output level, because he is currently at the profit-maximizing output level. D) increase production and reduce price. E) there is insufficient information to make a recommendation 2) 2) Consider a monopolist that is able to distinguish...
9) A single-price unregulated monopolist will set its price and quantity according to the rule: A)...
9) A single-price unregulated monopolist will set its price and quantity according to the rule: A) marginal revenue marginal cost. B) marginal revenue price. C) marginal cost- average cost. D) marginal cost- price.
please answer asapp This Question: 1 pt 1 of 48 (1 complete) This Test: 48 pts...
please answer asapp
This Question: 1 pt 1 of 48 (1 complete) This Test: 48 pts p Because it faces a downward sloping demand curve, a monopolist is a price taker O A True B False Profit maximazation for a monopolist and a perfect competitor occurs where marginal revenue equals marginal cost. At this profit-maximizing output, the monopolist will charge a price competitor will charge a price marginal revenue marginal revenue and a perfect O A equal to greater than...
marginal revenue A monopolist maximizes profit by choosing the quantity at which marginal revenue equals at that quantity because the demand curve is above the marginal-revenue curve. Profit equals mulitplied by the profit-maximizing quantity Price is and marginal cost average variable cost average cost marginal revenue. A monopolist maximizes profit by choosing the quantity at which marginal revenue equals Price is at that quantity because the demand curve is above the marginal-revenue curve. Profit equals the difference between the price...
Question 1 (Mandatory) (5 points) Saved If at an output of 10 units a monopolist is earning a positive profit, marginal revenue is $6, and marginal cost is $4, then the monopolist A) is in equilibrium. B) should increase output. C) should reduce output. D) should raise the price at the current output level. Question 40 (Mandatory) (5 points) The marginal revenue product of a resource measures OA) the additional cost to a firm of employing one more unit of...
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 17 10 19 9 8 21 8 9 23 7 10 25 7 Reference: Ref 13-2 to the table. When this monopolist sells 8 units, its average cost and marginal cost levels are: (Table: Profit-Maximizing Monopolist) A. $2.56 and $2 respectively. B. $2.63 and $2 respectively. C. $2.56 and 54 respectively. OD. $2.63 and 54 respectively.
Question 41 (1 point) 15 15- 10 10- 5 5. D 1 VIRD 1 Q 5 10 15 MR 5 10 Residential Business The above figure shows the demand curves of two segment of customers-residential and business for electricity. For an electricity utility company, it will be possible to price discriminate because elasticities differ across markets. electricity cannot be resold easily. It is easy to identify which consumers belong to which segment. All of the above. Question 42 (1 point)...
1) 1) A single-price monopolist is currently producing an output level where P-520, MR = $13, ATC = $15, and MC = $14. In order to maximize profits, this monopolist should A) shut down B) decrease production and increase price. C) not change his output level, because he is currently at the profit-maximizing output level. D) increase production and reduce price. E) there is insufficient information to make a recommendation 2) 2) Consider a monopolist that is able to distinguish...
9) A single-price unregulated monopolist will set its price and quantity according to the rule: A) marginal revenue marginal cost. B) marginal revenue price. C) marginal cost- average cost. D) marginal cost- price.
please answer asapp
This Question: 1 pt 1 of 48 (1 complete) This Test: 48 pts p Because it faces a downward sloping demand curve, a monopolist is a price taker O A True B False Profit maximazation for a monopolist and a perfect competitor occurs where marginal revenue equals marginal cost. At this profit-maximizing output, the monopolist will charge a price competitor will charge a price marginal revenue marginal revenue and a perfect O A equal to greater than...
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