Homework Answers
Q1. Option 3
A monopolist would price and quantity at the intersection of MC and MR but at the point where it meets on demand curve.
Q7.Option 1
Q8. Opiton 1
It is at the intersection of MC and demand curve
Q9. Opito 3
We can observe that profit in perfect competition is lesser than monopoly
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Per Unit Costs Cost per Unit (5) Q, QQ Output Quantity What is the profit-maximizing price...
Figure: Profit Maximizing Price, ATC, AVC, and MC (per unit) 91 92 93 94 95 Quantity...
Figure: Profit Maximizing Price, ATC, AVC, and MC (per unit) 91 92 93 94 95 Quantity (per period) Reference: Ref 9-3 if the price in the competitive market is The optimal level of output will be O A. 91; P3 O B. 92; P4 O C. 93; P2 O D.O; P1 O E. None of the above
Question 47 (3 points Dollars MIC ATC Pt P4 Ps Quantity of Output MR The profit-maximizing...
Question 47 (3 points Dollars MIC ATC Pt P4 Ps Quantity of Output MR The profit-maximizing price and quantity established by the unregulated monopolist in the above figure are 1) Q1 units of output and a price of P5 2) Q3 units of output and a price of P3. 3) Q1 units of output and a price of P1. 4) Q4 units of output and a price of P4
Price A B P2 F P1 G D Q2 Q, Q3 Quantity What is the area...
Price A B P2 F P1 G D Q2 Q, Q3 Quantity What is the area of the consumer surplus for new customers when price moves from P2 to P1? BGF OP2AB P2P1FB O P1P2GB
Please answer the following 3 questions: Price МС ATC Tmi 5 ---- Quantity/Time MR According to...
Please answer the following 3 questions:
Price МС ATC Tmi 5 ---- Quantity/Time MR According to the above figure, the profit-maximizing output for this monopolist is found directly below the letter e ż O O O O 3 Which of the following would best describe the demand curve faced by a monopoly firm? o vertical line at the output level O same as the market demand curve O same as the perfect competitor's demand curve O horizontal line at the...
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total...
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total Cost $550 $1.000 500 1.075 450 1.200 1.375 350 1.600 300 1.875 250 2200 2.575 400 200 Use Table: Demand and Total Cost. Lenoia runs a natural monopoly firm producing electricity for a small mountain village. The table shows Lenoia's demand and total cost of producing electricity. The profit-maximizing quantity of electricity for her to produce is megawatts. O2 os Figure: The Monopolist Price,...
the figure at right. The market equilibrium quantity is Q. Point Q2 represents the optimal amount...
the figure at right. The market equilibrium quantity is Q. Point Q2 represents the optimal amount of production. Refer The government can achieve the optimal outcome by consumers equal to OA. providing a per-unit subsidy P2 P1 P3 O B. providing a per-unit subsidy Рз - P1- consumers equal to P2 P. O C. setting the price at P3. O D. establishing a tax equal to P2 -P1 per unit of the good sold. D2 D. а, а Quantity Price...
1. The graph below depicts the cost structure for a firm in a competitive market. a. When price rises from P2 to P3, th...
1. The graph below depicts the cost structure for a firm in a
competitive market.
a. When price rises from P2 to P3, the
firm finds that...
. Group of answer choices
expanding output to Q4 would leave the firm with losses.
it could increase profits by lowering output from Q3 to Q2.
if it produces at output level Q3 it will earn a positive
profit.
b.When price falls from P3 to P1, the firm
finds that
Group of answer...
The figure below shows the revenue and cost curves for a profit-maximizing monopolist. Based on the...
The figure below shows the revenue and cost curves for a profit-maximizing monopolist. Based on the figure, the monopolist will produce Figure 8-1 1 1 Price -- ---- ! MR Q, Q Qz Quantity between Q1 and Q2 units of output Q1 units of output between Q2 and Q3 units of output Q2 units of output Q3 units of output
X Text Question 4.3 Question Help Suppose a nonlinear price discriminating monopoly, can set three prices,...
X Text Question 4.3 Question Help Suppose a nonlinear price discriminating monopoly, can set three prices, depending on the quantity a consumer purchases. The firm's profit is T=P1 (Q1) +P2 (Q2-Q1) +P3 (Q3 - Q2) – mQ3, where p, is the high price charged on the first Q, units (first block), P, is a lower price charged on the next Q, -Q, units, P3 is the lowest price charged on the Q3-Q, remaining units, Q, is the total number of...
T А 1 Price, Cost P4 a P3 P2 B Pi Quantity 0 Q1 Q2 If...
T А 1 Price, Cost P4 a P3 P2 B Pi Quantity 0 Q1 Q2 If a positive externality exists then the socially optimal price is OP2 OP3 Op4 OP1
Figure: Profit Maximizing Price, ATC, AVC, and MC (per unit) 91 92 93 94 95 Quantity (per period) Reference: Ref 9-3 if the price in the competitive market is The optimal level of output will be O A. 91; P3 O B. 92; P4 O C. 93; P2 O D.O; P1 O E. None of the above
Question 47 (3 points Dollars MIC ATC Pt P4 Ps Quantity of Output MR The profit-maximizing price and quantity established by the unregulated monopolist in the above figure are 1) Q1 units of output and a price of P5 2) Q3 units of output and a price of P3. 3) Q1 units of output and a price of P1. 4) Q4 units of output and a price of P4
Price A B P2 F P1 G D Q2 Q, Q3 Quantity What is the area of the consumer surplus for new customers when price moves from P2 to P1? BGF OP2AB P2P1FB O P1P2GB
Please answer the following 3 questions:
Price МС ATC Tmi 5 ---- Quantity/Time MR According to the above figure, the profit-maximizing output for this monopolist is found directly below the letter e ż O O O O 3 Which of the following would best describe the demand curve faced by a monopoly firm? o vertical line at the output level O same as the market demand curve O same as the perfect competitor's demand curve O horizontal line at the...
Table: Demand and Total Cost Table: Demand and Total Cost Quantity Price per (megawatts) Megawatt Total Cost $550 $1.000 500 1.075 450 1.200 1.375 350 1.600 300 1.875 250 2200 2.575 400 200 Use Table: Demand and Total Cost. Lenoia runs a natural monopoly firm producing electricity for a small mountain village. The table shows Lenoia's demand and total cost of producing electricity. The profit-maximizing quantity of electricity for her to produce is megawatts. O2 os Figure: The Monopolist Price,...
the figure at right. The market equilibrium quantity is Q. Point Q2 represents the optimal amount of production. Refer The government can achieve the optimal outcome by consumers equal to OA. providing a per-unit subsidy P2 P1 P3 O B. providing a per-unit subsidy Рз - P1- consumers equal to P2 P. O C. setting the price at P3. O D. establishing a tax equal to P2 -P1 per unit of the good sold. D2 D. а, а Quantity Price...
1. The graph below depicts the cost structure for a firm in a
competitive market.
a. When price rises from P2 to P3, the
firm finds that...
. Group of answer choices
expanding output to Q4 would leave the firm with losses.
it could increase profits by lowering output from Q3 to Q2.
if it produces at output level Q3 it will earn a positive
profit.
b.When price falls from P3 to P1, the firm
finds that
Group of answer...
The figure below shows the revenue and cost curves for a profit-maximizing monopolist. Based on the figure, the monopolist will produce Figure 8-1 1 1 Price -- ---- ! MR Q, Q Qz Quantity between Q1 and Q2 units of output Q1 units of output between Q2 and Q3 units of output Q2 units of output Q3 units of output
X Text Question 4.3 Question Help Suppose a nonlinear price discriminating monopoly, can set three prices, depending on the quantity a consumer purchases. The firm's profit is T=P1 (Q1) +P2 (Q2-Q1) +P3 (Q3 - Q2) – mQ3, where p, is the high price charged on the first Q, units (first block), P, is a lower price charged on the next Q, -Q, units, P3 is the lowest price charged on the Q3-Q, remaining units, Q, is the total number of...
T А 1 Price, Cost P4 a P3 P2 B Pi Quantity 0 Q1 Q2 If a positive externality exists then the socially optimal price is OP2 OP3 Op4 OP1
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