Question

Need help with this intermediate microeconomics question

0 0
Add a comment Improve this question Transcribed image text
Answer #1

hetihon this cs itaken bt the firm et 2e Suoplus Bo the Piing Statey Ras Smilar elkeot Brice disoimineio ihe ist deghe CS MonDate Page Thu Monopolist can poastice a lfeent Vai ese he com change ame charge Same fixed e aorss nbumer, whi is eaData, thus ra,)in-foi ce changed, MR-p(%) 80 Monopolist as TC- Me-a yee 98-9 CS -一6250. 6356 hn 2) X 99 998[ 2 + 499 1-119998

Add a comment
Know the answer?
Add Answer to:
Need help with this intermediate microeconomics question Question 4 Consider the monopolist in question 1 but...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Consider the monopolist with the function D(p) = 2000 - 4p and Marginal Cost = 10...

    Consider the monopolist with the function D(p) = 2000 - 4p and Marginal Cost = 10 a) In a graph with on the vertical axis and units of output on the horizontal, draw the market demand function and the monopolist’s marginal revenue and marginal cost curves. Show your calculations for the monopoly price and output.(2 points) b)Use your graph in part a) to calculate Producer’s Surplus. Calculate the monopoly profits using the monopolist’s profit function and show that they are...

  • 3. Assume that a monopolist produces a good at constant marginal cost MC(q) = 1. Demand...

    3. Assume that a monopolist produces a good at constant marginal cost MC(q) = 1. Demand is given by pºq) = 10 - 2q. There are no other pre-existing distortions in the market. (a) What is the privately optimal quantity and price chosen by the monopolist? For parts (b) and (c), assume that a tax of $t is imposed on every unit of output produced by the monopolist. (b) Derive the optimal quantity and price chosen by the monopolist as...

  • Suppose the demand functions facing a wireless telephone monopolist are QdL=90−200P for each low-demand consumer and...

    Suppose the demand functions facing a wireless telephone monopolist are QdL=90−200P for each low-demand consumer and QdH=120−200P for each high-demand consumer, where P is the per-minute price in dollars. The marginal cost is $0.15 per minute. Suppose the monopolist offers a menu of two-part tariff plans, with one plan intended for each type of consumer. Suppose too that for any per-minute price PL in the low-demand plan, the fixed fee in the low-demand plan leaves a low-demand consumer with zero...

  • The perfect price-discriminating monopolist in this diagram will produce ____ units of output, and a single-price...

    The perfect price-discriminating monopolist in this diagram will produce ____ units of output, and a single-price monopolist would produce _____ units of output. Consumer surplus under a perfectly price discriminating monopolist is _____ dollars than under a single-price monopolist. While, perfect price discrimination results in reduced consumer surplus, it (increases/decreases) producer surplus and ultimately results in deadweight loss that is (less than/greater than/equal to) the amount of deadweight loss found in a perfectly competitive market. 3 5 points Price $10...

  • Question 7 1 pts Consider a perfectly competitive market. Why is the market equilibrium pareto efficient?...

    Question 7 1 pts Consider a perfectly competitive market. Why is the market equilibrium pareto efficient? in this market, one can make someone better off without harming someone else. consumer surplus is maximized but producer surplus is not maximized Oproducer surplus is maximized but consumer surplus is not maximized total surplus is maximized. all of the above

  • Question 2 (35 points): (3rd Degree Price Discrimination) Let there be a monopolist firm and two ...

    Please answer clearly and explain. Question 2 (35 points): (3rd Degree Price Discrimination) Let there be a monopolist firm and two groups of consumers. Suppose that marginal cost is defined by MC- 2. T'he demand that each consumer receives is given by Q,-50-pl 202 200-P 1) ( 4 points) Consider the monopolist engages in first degree price discrimina- tion only in market 2. Compute the monopoly profit in this market. ii) (4 points) Which group has a mhore inelastic demand...

  • Question 2 (35 points): (3rd Degree Price Discrimination) Let there be a monopolist firm and two ...

    Please answer clearly and explain. Thank you! Question 2 (35 points): (3rd Degree Price Discrimination) Let there be a monopolist firm and two groups of consumers. Suppose that marginal cost is defined by MC- 2. The demand that each consumer receives is given by 1 50- P 2Q2- 200 - P2 i) (4 points) Consider the monopolist engages in first degree price discrimina- tion only in market 2. Compute the monopoly profit in this market. ii) (4 points) Which group...

  • (8 points) Suppose a monopolist is the only firm that supplies water for the city of...

    (8 points) Suppose a monopolist is the only firm that supplies water for the city of Atlanta The firm faces a market demand curve given by Q- 33-P, where P is the price of water and Q is the market demand for water per day. (1 pt) Derive the monopolist's marginal revenue curve. (2 pts) Suppose the total cost of this firm is described by a. b. TC 0.50+30. What output level will the firm choose to maximize profits? What...

  • Price Discriminating Monopolist vs. Single Price Monopolist I have 4/5 answers to the question correct, but I do not kno...

    Price Discriminating Monopolist vs. Single Price Monopolist I have 4/5 answers to the question correct, but I do not know which ones, and I cannot seem to figure out which one I have incorrect. My answers are: 8 4 8 increases Less Than 3. (Figure: Price-Discriminating Monopolist 2) The perfectly price-discriminating monopolist in this diagram will produce units of output, and a single-price monopolist would produce units of output. Consumer surplus under a perfectly price discriminating monopolist is_ dollars less...

  • 1. Consider a market dominated by a monopolist. The demand in this market is Q=100-5P. The monopolist faces a constant...

    1. Consider a market dominated by a monopolist. The demand in this market is Q=100-5P. The monopolist faces a constant MC=AC=$4 a. Calculate the monopoly P and Q b. Calculate the monopoly profit c. Calculate consumer surplus under monopoly d. What would P and Q be if this were a perfect competition? e. What would profit and consumer surplus be if this were a perfect competition? f. What is the deadweight loss to having the monopoly? g. If consumers could...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT