- A monopolist has variable costs of VC = q² and faces a demand curve of P = 24- q, where P is price and q the quantity sold. What is the deadweight loss if the monopolist engages in first-degree price discrimination? O $64 O $16 O $6 O $32 O $0
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- Let the demand and cost curves for a monopolist be If the government imposes a price ceiling of $100 on the monopolist's price, what is the profit earned by the monopolist without and with the price ceiling? O No ceiling: $10,000 Ceiling: $0 O No ceiling: $10,000 Ceiling: $10,000 O No ceiling: $20,000 Ceiling: $10,000 Q = 1000 - 4P 20000 + 50Q TC O No ceiling: $20,000 Ceiling: $0Question 38 (1 point) ✓ Saved A monopolist faces market demand given by P= 100-3Q. For this market, MR=100-5Q and MC-25. What price will the monopolist charge in order to maximize profits? $12.50 $84.50 Another value (not listed) O $25.00 $45.00In a market where a monopolist can charge different prices to different groups, which of the following groups will likely be charged the lowest price?O a. the group for which the good is a necessityO b. the group for which the good makes up a large portion of income (big-ticket item)O c. the group for which the good has no good substitutesO d. the group for which the good makes up a small portion of income (small-ticket item)O e. The groups described in (a), (c), and (d) will all get charged a lower price than the group described in (b).
- Figure: Maximum Willingness to Pay P $100 75 45 100 100 110 125 2 125 MR MC What is the profit-maximizing quantity for this monopolist? O 110 75 DSuppose that a monopolist supplies a product in two distinct markets, LA and SF. The demand functions for thetwo markets are PLA = 52 – 4QLA and PSF = 70 – 7QSF. The monopolist has a fixed cost of $20 and a constantmarginal cost of $10 per unit.a. If segmenting is feasible, what are the profit-maximizing prices, quantities, and maximized profit?b. If segmenting is NOT feasible, what is the profit-maximizing price, quantity, and maximized profit?c. How much is the difference in total consumer surplus in the two cases? Which case makes consumers better off?Question 3 A firm may be deemed a monopolist, even though it is not the only seller in a market, because what matters is size in relation to the market. True 5 pts O False
- Assume that a monopolist sells a product with a total cost function: TC = 1200+0.5Q2. The market demand curve is given by the equation: Q=300-P a) For this monopolist, the profit-maximizing price is _________, at which it will sell __________ units of output. b) If this market were supplied by many firms with the same cost function, how much would be produced? _____________ At what price would it be sold? ______________ c) Calculate the loss in efficiency in this market due to the monopoly _____________Part A Suppose that the monopolist can produce a good with total cost TC = 24Q. Assume also that hemonopolist sells its goods in two different markets separated by some distance. The demand curves inthe first market and the second market are given by Q1 = 120 - P1/2 and Q2 = 360 - 3P2. If themonopolist can maintain the separation between the two markets, what level of output should beproduced in each market, and what price will prevail in cach market? Why are the two prices different?Verify the Lemer Index for cach market. Part B Suppose a monopoly faces a demand curve by Q = 154 - P/3. The monopolist has two plants. The firsthas a total cost function given by TC1, = 3Q21 and the second plant's total cost function is given byTC2 = 2Q22 How much total output will the monopoly choose to produce and how will it distributethis production between its two factories in order to maximize profits? Find monopolist's profits.A monopolist book publisher with a constant marginal cost of 2 and no fixed costs sells novels in only two countries. Assume the inverse demand curve in country 1 is given by P1=10-2/3Qand the inverse demand curve in country 2 is given byPW=18-QAssuming book shipments across countries are banned so that price discrimination occurs. What is the equilibrium price and quantity of books sold by the monopolist in country 1?Options are: a)p=1, q=16b) p=1 q=12c) p=4, q=8d)p=6, q=6Continuing to assume price discrimination, what is the equilibrium price and quantity of books sold by the monopolist in country 2?a)p= 4,q=14b)p= 6,q=12c)p= 8,q=10d)p= 10,q=8If book imports are permitted in both countries so that price discrimination is impossible, what is the equilibrium price and quantity sold in the two countries combined?a)p=6,q=20b)p=7,q=20c)p=10,q=8d)p=12,q=6
- Let the market demand curve be P = 70 - 2Q, and assume all sellers can produce at a constant marginal cost of MC = 10, with zero fixed costs. a. If the market is controlled by a monopolist, what is the equilibrium price and quantity? How much profit does the monopolist earn? b. Now suppose that Amy and Beau compete as Cournot oligopolists. What is the Cournot equilibrium quantity per seller, total market quantity, market price, and profit per seller? c. Now suppose Amy and Beau decide to collude and form a Monopoly. Amy produces half of the monopoly output. Use the best response functions derived in part b. to determine Beau's best response. Does Beau optimally produce half the monopoly output? Based on this result, does it seem likely that the firms will be able to sustain collusion? Why or why not? Explain.Suppose both a monopolist and a perfectly competitive firm are producing in theirrespective markets at a point where marginal cost is $8 and marginal revenue is $10. Whatshould the profit-maximizing firms do? Group of answer choices Both the monopolist and the perfectly competitive firm should increase output until MC= MR. The monopolist should keep producing at this level but the perfectly competitive firmshould decrease output until MC = MR. The monopolist should increase output but the perfectly competitive firm should shutdown. Both the monopolist and the perfectly competitive firm should decrease output until MC= MR.Which of the following statements regarding a profit-maximising monopolist is FALSE? O a. This firm might respond to a fall in demand by reducing both its output and its price. O b. This firm might respond to a fall in demand by reducing its output and increasing its price. O c. This firm would respond to a fall in the price of a variable input by increasing its output and reducing its price. d. This firm would respond to a fall in the price of a fixed input by increasing its output and reducing its price.
