Assume a monopolist faces the demand schedule given below and a constant marginal cost of $2 for each unit of output.

Question

Question

See Hint Part 1 (9 points) Assume a monopolist faces the demand schedule given below and a constant marginal cost of $2 for e See Hint Part 2 (2 points) units of output at a price of $ To maximize profit, this monopolist would produce per unit.

Part 1 (9 points)

Assume a monopolist faces the demand schedule given below and a constant marginal cost of $2 for each unit of output.

Fill in the total and marginal revenue amounts in the table.

Part 2 (2 points) To maximize profit, this monopolist would produce _______ units of output at a price of $_______ per unit.

business economics

Add a comment Improve this question Transcribed image text

Answer 1

✔ Recommended Answer

Answer #1

le aJe check the Ard wre in th Ar Shechorty) Phtet 1 2 4 2 4 3122 12. So 아

Add a comment

Answer 2

Similar Homework Help Questions

Assume a monopolist faces the demand schedule given below and a constant marginal cost of $2...

Assume a monopolist faces the demand schedule given below and a constant marginal cost of $2 for each unit of output Fill in the total and marginal revenue amounts in the table. Price Quantity demanded Total revenue Marginal revenue 10 0 8 1 5 2 3 units of output at a price of $ To maximize profit, this monopolist would produce per unit.
The table below presents the demand schedule and marginal costs facing a monopolist producer. The table...

The table below presents the demand schedule and marginal costs facing a monopolist producer. The table below presents the demand schedule and marginal costs facing a monopolist producer. Q TR ($) MR ($) MC ($) P / ($) 13 0 5 1 12 2 11 10 - 3 Instructions: Round your answers to the nearest whole number and include a negative sign if appropriate. Leave no cells blank. Enter O if appropriate. a. Fill in the total revenue and marginal...
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...

1 5. A monopolist faces the following demand schedule for the good that is its product. (15 points) Quantity Price...

1 5. A monopolist faces the following demand schedule for the good that is its product. (15 points) Quantity Price Total Revenue Marginal Revenue $500.00 $450.00 $400.00 $350.00 $300.00 $250.00 $200.00 $150.00 $100.00 $40.00 10 a. Compute the firm's Total Revenue for each quantity. b. Compute the firm's Marginal Revenue for each quantity. c. If fixed costs are $200 and marginal cost is constant at $40 per item what quantity will the firm produce to maximize profit? d. What price...
A monopolist has a cost function given by c(y) = y and faces an inverse demand...

A monopolist has a cost function given by c(y) = y and faces an inverse demand curve given by P(y) = 156.00 - y, where P is the per-unit price and y is the quantity of output sold. Assume this monopolist cannot discriminate and charges a single price. What is the profit-maximizing level of output? What is its profit-maximizing price? $ Part 2 (2 points) See Hint Assume you want to choose a price ceiling for this monopolist so as...
Suppose a monopolist faces consumer demand given by P 400-5Q with a constant marginal cost of $20 per unit (where margi...

Suppose a monopolist faces consumer demand given by P 400-5Q with a constant marginal cost of $20 per unit (where marginal cost equals average total cost. assume the firm has no fixed costs) If the monopoly can only charge a single price, then it will earn profits of S(Enter your response rounded as a whole number.) Correspondingly, consumer surplus is S However, if the firm were to practice price discrimination such that consumer surplus becomes profit, then, holding output constant...

The table below presents the demand schedule and marginal costs facing a monopolist producer. TR ($)...

The table below presents the demand schedule and marginal costs facing a monopolist producer. TR ($) MR ($) MC($) Q 0 P($) 10 0 5 13 5 5 19 8 2 Instructions: Round your answers to the nearest whole number and include a negative sign if appropriate. Leave no cells blank. Enter O if appropriate. a. Fill in the total revenue and marginal revenue columns. b. What is the profit-maximizing level of output? units c. What price will the monopolist...
The following table shows demand and marginal cost for a monopolist. Calculate marginal revenue (MR) at...

The following table shows demand and marginal cost for a monopolist. Calculate marginal revenue (MR) at each quantity. (Enter your response as an integer.) Output (units) (Q) Price per Unit (P) Marginal Revenue Marginal (MR) Cost (MC) 0 10 9 1 2 8 2 3 7 3 4 6 4 5 5 5 A profit-maximizing monopolist will produce units and set a price of $
A monopolist faces the following average revenue (demand) curve:

Problem 1. (7 points) A monopolist faces the following average revenue (demand) curve: P = 300-0.3Q and the monopolist's cost function is given by C(Q) = 8000+0.3Q2 (a) Derive the monopolist's marginal revenue equation. (2 pts) (b) Derive the monopolist's marginal cost equation. (1 pt) (c) What level of output will the monopolist choose in order to maximize its profits? (2 pts) (d) What price will the monopolist receive at the profit-maximizing level of output? (1 pt) (e) Calculate the monopolist's profit when they produce at the profit-maximizing level....

Suppose a monopolist faces consumer demand given by P 600 1Q with a constant marginal cost...

Suppose a monopolist faces consumer demand given by P 600 1Q with a constant marginal cost of $60 per unit (where marginal cost equals average total cost. asssume the firm has no fixed costs). If the monopoly can only charge a single price, then it will earn profits of S(Enter your response rounded as a whole number.) Correspondingly, consumer surplus is S However, if the firm were to practice price discrimination such that consumer surplus becomes profit, then, holding output...

Assume a monopolist faces the demand schedule given below and a constant marginal cost of $2 for each unit of output.

Homework Answers

Add Answer to:
Assume a monopolist faces the demand schedule given below and a constant marginal cost of $2 for each unit of output.

Post as a guest

Earn Coins