Homework Answers
Ans: Profit
Explanation:
In the above diagram, equilibrium occurs where MR = MC. Equilibrium quantity is 50and price is $30. From the diagram it is seen that:
TR = area ABEF
TC = area CDEF
Profit = TR - TC = ABEF - CDEF = ABDC
Thus, option [C] is correct answer.
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Exhibit 10.5
Exhibit 10.5 shows the demand, marginal revenue, and cost curves
for a monopolistic competitor. The monopolistic competitor's
profit-maximizing level of output is _____.
A) 137.5 units
B) 75 units
C) 125 units
D) 100 units
E) 150 units
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#1
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Use the graph to answer (A) through (F)
80 70 60 50 40 30 20 10 State the equation for the demand curve (inverse demand function) shown in the graph above using the format P-a-bQ a. b. State the equation for the demand function implied in the graph ysing the format Q-c-dP. c. Find the equation for Total Revenue, where TR is a function of output (Q) d. Find the equation for Marginal Revenue, where MR is a function of...
Exhibit 10.5
Exhibit 10.5 shows the demand, marginal revenue, and cost curves
for a monopolistic competitor. The monopolistic competitor's
profit-maximizing level of output is _____.
A) 137.5 units
B) 75 units
C) 125 units
D) 100 units
E) 150 units
Price 23 - ---- - - - - -- - 9 12 Quantin 15 MR Optimal output and price for the nondiscriminating monopolist in Exhibit 9-5 are 15 and $15 O 15 and $13 o 9 and $23 12 and...
MR Demand 10 20 30 40 50 60 70 80 Duantity Refer to Figure 15-20. The deadweight loss caused by a profit-maximizing monopoly amounts to a. $900. b. $225. c. $1,350. d. $450 Price MC 4+ F + 1 + 2 + 4 Demand 10 11 12 3 5 6 7 8 9 Quantity Refer to Figure 15-11. Which area represents the deadweight loss from monopoly? a. H b. A+B+C+D+F+I+J+H O c. S+H d. J Price MC Demand iMR: 10...
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