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- In a market demand and supply equations are: The demand curve is given as P = 900 - 10QThe supply curve is given as P = 300 + 20Q 2) Assume a monopoly condition for the above market. a) What are the monopoly market price and quantity?b) What is the consumer surplus?c) What is producer surplus?d) What is the total wealth?e) What is the Deadweight Loss?Please show full work and explanation, Thank you in; I will leave a good rating!Exercise 5. You are the manager for a monopoly with costs, demand, and marginal revenueas in the graph at the top on Figure 1. a. Suppose economic conditions change in such a way that the demand curve for yourcompany shifts left.b. Draw a demand curve on the bottom graph on Figure 1 that leads to zero economicprofits.c. Draw a demand curve on the bottom graph on Figure 1 such that any furtherleftward demand shift will cause you to shutdown.Mustapha maintains a monopoly in the holographic TV market because of its patent but it is about to expire. The market demand and Mustapha’s production cost are given by: P = 100 − 0.5? and ?? = 100 + 0.5Q2 The monopoly profit is. a. $3,750.00 b. $2,400.00 c. $3,000.00 d. $2,500.00
- A pure monopoly sells 6 units of a product per day at a unit price of $15. If it lowers the price to $14, its total revenue increases by $22. This implies that its sold output increases by _____. rev: 05_15_201823. Can the government bring about an efficient outcome by imposing a price ceiling on a monopoly? Eexplain your answer and explain what is the new demand curve and MR curve and why.There is a monopolist, Concrete Mex, in the concrete market in Mexico. The demand function is Qd= 100-50p. The marginal cost of production is c = 0.4. a) ConcreteMex claimed the high price is due to high transportation costs and persuaded the government to help cut down the costs. As a result, for every unit of concrete sold, the government subsidizes ConcreteMex 0.2 dollars. What are the new profit maximizing price and production level for ConcreteMex? b) Under the subsidy policy and the new price in a part, calculate the consumer surplus, producer surplus, and deadweight loss. You do not need to consider government spending for the deadweight loss. c) Suppose ConcreteMex wants to enter a different market, the competitive market in Texas. To enter the market, ConcreteMex needs to pay a fixed cost of F = 1, and its variable cost in Texas is VC = (0.4+Q)Q. What is ConcreteMex’s total cost, marginal cost, and average total cost in Texas at production level Q?
- Q.5 Deprive monopoly demand for an input when several inputs are used in the production process. (Explain Minimum 2000 words... Only 15 percent plagiarism allowed.)I need help with econ multiple hw questions asap! 83) Refer to the attached Figure 22. Which area represents the deadweight loss due to monopoly pricing? A. rectangle acdb B. rectangle cfgd C. triangle bde D. triangle bge 82)Refer to the attached Figure 21. What is the loss of total surplus caused by a profit-maximizing monopoly? A. $200 B. $250 C. $125 D. $100If Marginal Revenue (MR) is: d/dq = 2.050 - 18q - 4q2 a. Determine Revenue function b. Determine demand function
