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- help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all workingSpecific Instructions: Identify the factor/s affecting the supply and/or demand for each of the underlined good or service Start from an initial equilibrium market condition (see figure below) and then illustrate the shift/s in the supply and/or demand curve/s Assume equal magnitude of shift in the supply and demand curves. Label all figures and use an arrow to show the direction of the shift. X QProblem 11-04 (algo) ou are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Analysts at your irm have determined that group 1's elasticity of demand is -5, while group 2's is -2. Your marginal cost of producing the product is 630 a. Determine your optimal markups and prices under third-degree price discrimination. Instructions: Enter your responses rounded to two decimal places. Markup for group 1: Price for group 1: $ Markup for group 2: Price for group 2 $ b. Which of the following are necessary conditions for third-degree price discrimination to enhance profits. Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click twice to empty the box. ?At least one group has elasticity of demand greater than 1 in absolute value. ?At least one group has elasticity of demand less than one in absolute value.…
- **only enter numbers NO $$ and do NOT type in words (e.g. loss/profit, $'s etc - ONLY numbers) PRICE Price Info A Quantities B с D E F G Given this information: H A = $162 1 = 20 I L M Quantity K N B = $144 J-70 O 1 I I I I I I I I I I I I ATC MC K=130 AVC C = $120 D = $88 L = 240 E = $54 F = $40 G = $22 H = $14 Shutdown Point in $ = Quantity Produced ATC ($$ amount) AVC ($$ amount) TC ($$ amount) TVC ($$ amount) Profit/Loss ($$ amount) = BreakEven point in $ = Quantity Produced ATC ($$ amount) L AVC ($$ amount) TC ($$ amount) L TVC ($$ amount) Profit/Loss ($$ amount) L Profit/Loss Point in $ = Quantity Produced = ATC ($$ amount) = AVC ($$ amount) TC ($$ amount) = TVC ($$ amount) Profit/Loss ($$ amount)As per given information, the table is completed:- (In $) Quantity Price Total Marginal Total Cost Marginal Revenue Revenue Cost 34 20 20 1 32 32 32 36 16 2 30 60 28 46 10 28 84 24 50 4 4 26 104 20 54 4 24 120 16 56 2 22 132 12 64 7 20 140 80 16 8 18 144 4 100 20 16 144 128 28 14 140 -4 160 32 (d) Generally, what are the relative values of price, ATC, and AVC when a monopolist experiences: a profit? a loss but continues to produce? a loss but ceases production? 10Q9
- N1(8) a.) (4) The United States Postal Service (USPS) charged $0.58 per stamp in 2022. They allow stamps.com to sell a sheet of twenty stamps with personalized photos for $1.20 per stamp. Stamps.com keeps the extra beyond the $0.58 it pays the USPS. If stamps.com is acting as a profit maximizing monopolist, what is their Lerner Index and what is the price elasticity of demand for a customized stamp? b.) (4) Suppose a movie theater determines that the elasticity of demand for movie tickets is -2.0 for senior citizens and –1.5 for adults under age 65, and the marginal cost is $4 per consumer. Use the Lerner index to determine the price senior citizens should be charged and the price adults under age 65 should be charged in order to maximize profits.Exotic Metals, Inc., a leading manufacturer of beryllium, which is used in many electronic products, estimates the following demand schedule for its product. Find the total revenue and marginal revenue schedules for the firm and complete the following table. Price Quantity Total Revenue Marginal Revenue ($/Pound) (Pound/Period) ($/Period) ($/Period) 25 0 0 18 1,000 18,000 18.00 16 2,000 14 3,000 12 4,000 10 5,000 8 6,000 6 7,000 4 8,000 2 9,000 Fixed costs of manufacturing beryllium are $14,000 per period. The firm’s variable cost schedule is as follows: Determine the average total cost and marginal cost schedules for the firm and complete the following table. Output Variable Cost Total Cost Marginal Cost (Pound/Period) (Per Pound) ($/Period) ($/Period) 0 0 0 1,000 10.00 24,000 24.00 2,000 8.50 3,000 7.33 4,000…
- Refer to Figure 5.1, if 4,500 units were traded, Deadweight-Loss would be Figure 5.1 Price (p) S 15 12 9 (a) (b) (c) (d) (e) (f) 4,500 equal to "areas (g)+(h)." equal to "areas (e)+(f)." equal to "area (g)." negative. 6,000 (g) (h) 8,000 Supply Demand Quantity of items (q)Problem 14 A monopolist has an inverse demand curve given by p(y) = 12-y and a cost curve given by c(y) = y. (b) What is the deadweight loss of monopoly? (c) Suppose the government decides to put a tax on this monopolist so that for each unit it sells it has to pay the government $2. What will be its output under this form of taxation? (d) What will be the extra deadweight loss due to the tax? (e) Suppose now that the government puts a lump sum tax of $10 on the profits of the monopolist. What will be its output?