P | Q | TR(P×Q) | TC | MR(TR/Q) | MC(TC/Q) | profit (TR—TC) |
420 | 0 | 0 | 24750 | — | — | —24750 |
350 | 50 | 17500 | 26750 | 350 | 40 | —9250 |
280 | 100 | 28000 | 27750 | 210 | 20 | 250 |
210 | 150 | 31500 | 27900 | 70 | 3 | 3600 |
140 | 200 | 28000 | 28000 | —70 | 2 | 0 |
70 | 250 | 17500 | 29000 | —210 | 20 | —11500 |
0 | 300 | 0 | 34500 | —350 | 110 | —34500 |
True North Railways, the sole provider of passenger rail service to a remote community, has revenues...
Tuscaloosa Cable is a monopolist who has sole authority to operate in Tuscaloosa. The demand and marginal revenue curves that this monopolist face is given by P - 250-Q and MR-250-20, respectively. Marginal cost is $50 a. What is the profit maximizing quantity that the monopolist will supply? b. What price will the profit maximizing quantity be sold for in the market? c. Calculate the Lerner Index for this monopolist (If your answer has decimals, round to TWO DECIMAL PLACES):...
Tuscaloosa Cable is a monopolist who has sole authority to operate in Tuscaloosa. The demand and marginal revenue curves that thi monopolist face is given by P - 250 - Q and MR=250-26, respectively. Marginal cost is $50 a. What is the profit maximizing quantity that the monopolist will supply? b. What price will the profit maximizing quantity be sold for in the market? c. Calculate the Lerner Index for this monopolist (If your answer has decimals, round to TWO...
Light as Air is an airline flying a particular route that has seasonal demand. The firm’s total demand is given by: Q = 600 – 4P Where Q is the number of passengers per year, in thousands, and P is the fare (in $). In the peak (High) season the demand is given by: QH = 320 – 1.5PH And in the off-season (Low) the demand is given by: QL = 280 – 2.5PL Assume that fixed costs are $6...
7) A for-profit firm is bidding on a contract that would make it the sole provider of trash and recycling pick-up services in a city. The city-wide demand for trash and recycling pick-up is given by Qp = 50,000 - 200P where is measured in tons of material picked up and P is the price per ton. That demand curve implies that the inverse demand (i.e., rewriting the demand equation with as a function of P) for trash and recycling...
(6) Kinked Demand. Brooklyn Broadband, Inc., is a local provider of broadband access to the Internet in Brooklyn, New York. Brooklyn faces the following segmented demand and marginal revenue curves for its residential service: Over the range of 0 to 50(000) customers per month P1 = $15 . $0.05Q When output exceeds 50(000) customers per month P2 $22.50-$0.2Q The company's total and marginal cost functions are as follows TC $7.50+$1.50Q $0.025Q where P is price (in dollars), Q is output...
9. The logic of price discrimination Aa Aa Consider the market for airline tickets on Trans-America Airlines from Los Angeles to Philadelphia. The following graph shows the demand curve, marginal revenue (MR) curve, and marginal cost (MC) curve for this particular flight In particular, the cost of adding another passenger to an otherwise empty seat is constant at $80. For simplicity, assume throughout this question that there are no supply constraints owing to seating capacity and assume that there are...
Chap 11 Practice: Costs, Profits and Profit Maximization Price Number of wortes given Total dudon Q Total Revenue PQ War Revenue IMQ Tal Fed Costs TEC Tetable Cost TVC Total Costs TVC Au Varble Cont TV Are Maria Cost Coast 1000 1000 given C TC-TR 0 $80 1801 2 803 330 320 320 6 $ 0 $300 0 5300 N 2 3160 $80 3199 $150 $450 $ 3 525 $ $2.10 5 Shop 12033005300 6602 $60.120.50 $200 9 7200...300 $450...
2. Explain why the following statement is either true or false: I am the most talented goalie on my soccer team, and so I should always play goalie. 3. The table below corresponds to a former athlete who has decided to start selling appearances at birthday parties. This athlete is a monopolist selling this service. The first two columns correspond to how many appearances he could actually sell at various price levels. Assume, for each appearance, he has to pay...
1. A company is planning to monopolize their streaming services called HooFlix in Malaysia. The company has invested MYR 3 million into their streaming services. The company also face a marginal cost of MYR 10 per each streaming service they offer. The table below shows the HooFlix’s pricing for their streaming services per month and the quantity demanded at each pricing. PRICE (MYR)QUANTITY DEMANDEDMYR 13010,00012020,00011030,00010040,0009050,0008060,0007070,0006080,0005090,000 Using the information above, calculate the total revenue, marginal revenue, total cost, and profit. As a monopoly...
Hi, i need help with this question 1. The city's Water and Sewer provider is a regulated natural monopoly that has a cost function, C(Q,N) 1,000 +4N+3Q, where N is the number of households, and Q is the cubic inches of water consumed per day. There are 50 high type consumers each with demand, and 30 low type consumers with demand, Each q is cubic inches consumed per household per day. Start with the assumption that the monopolist is profit...