A monopolist produces and sells 400 units at a price of $40 per unit. The monopolist’s marginal cost is equal to $15 and average cost is equal to $23. The monopolist's profit is: a) $6,800. b) $8,000. c) $10,000. d) $16,000. e) None of these are correct.
Q: Suppose that a buyer values a house at $240,000 and a seller at $200,000. Choose a price that both ...
A: Since the question you have posted consists of multiple parts, we will answer the first three parts ...
Q: Question 2 Assuming that, due to an improved political outlook in the United States, some economists...
A: The current real exchange rate is the price that businesses and consumers will pay to purchase a for...
Q: What is Ann's maximin strategy? Game Bob L ...
A: Answer -
Q: •Consider the exogenous growth Solow-Swan model. An increase in the sav- ing rate increases the "bal...
A: When we will be going to discuss about the solow growth model which can be exogenous can be consider...
Q: In what way does an economist's measurement of profit differ from an accountant's? O Accountants cal...
A: Profits are calculated by both the economists and the accountants. The general formula for profit is...
Q: II. PROBLEM SOLVING: BALANCE AND SOLVE THE PROBLEM. WRITE YOUR ANSWERS ON THE SPACE PROVIDED. Balanc...
A: In this question we have to find out the total assets, total liabilities with the help of the above ...
Q: 12. How long in years will it take the money to triple its amount when deposited at the rate of 12% ...
A: Dear Student as you have posted multiple questions, but we are allowed to attempt only 1 question at...
Q: Republic of Bankland has three banks in the economy. The governor of the central bank of the Republi...
A: The total amount of money held by the public at any given moment in an economy is referred to as the...
Q: Which of the following are practical and effective policies to deal with carbon emissions caused by ...
A: Carbon emission is such a condition where carbon is released into the atmosphere. Global warming is ...
Q: Compute the economy's GDP using the expenditure approach. Assume that all transactions are 2019. Con...
A: Hector spent for the maintenance of his car P 70,000 per month will be considered Consumption = P ...
Q: Identify what you consider to be the political risks facing companies thinking of investing in USA c...
A: Political risk refers to the possibility that your business will suffer as a result of political ins...
Q: Jed opened a savings account and deposited P900.00 as principal. The account earns 15% interest, com...
A: Given information: Principal Amount (P): P900.00 Interest rate (r): 15% compounded continuously Tim...
Q: Economic models are: Precise representations of reality that include as many details as possible in ...
A: In economics, economists play an important role to explain the significance of studing economics and...
Q: For a nation's real GDP per capita to decrease during a year, O a) investment spending must increase...
A: Real GDP per capita helps to measure the standard of living for an economy. It shows the average inc...
Q: Consider the diagram below: FF(10% interest rate) Julia's endowment.»100- FF (78% interest rate) MRS...
A: Indifference Curve shows the equal satisfaction derived by the consumption of two goods by a consume...
Q: The inflation rate over the past year is at a 40 year high. This recent inflation consists of both c...
A: Inflation will be generated either through an increase in demand or it can be due to the increment i...
Q: True or false? The guaranteed income model encourages workers to work more. Select the correct answe...
A: The monetary worth of an entity's consumption and saving opportunities over a given time period is r...
Q: an average 20%. of the motors are Produced by a manufacturing plant are fournol to Pass standard tes...
A: Given: Probability of success (p) = 0.20 Probability of failure (q)= 1-0.20 = 0.80
Q: How does the world’s economy affect Malaysia’s economy during the COVID-19 pandemic?
A: The effects of COVID-19 on Malaysia's economy should be visible by means of the great joblessness ra...
Q: It is popular view in economic and legal literature that grandfathering or emission trading is incon...
A: Given statement: "It is popular view in economic and legal literature that grandfathering or emissio...
Q: Which of the following statements is correct regarding valuation of the benefits of abatement? A) G...
A: The price method that determines the internal as well as external factors that affect the prices of ...
Q: If a price ceiling is set by the government above the market equilibrium price, then A: the quantity...
A: Given data: A price ceiling is set by the government above the market equilibrium price.
Q: 37. A nominal rate of 15% compounded monthly is equal to what effective rate of interest. 18.95% 15....
A: Answer- "Thank you for submitting the questions.But, we are authorized to solve one question at a ti...
Q: Depict the following scenario using a graph. Assume that Major League Baseball goes from having free...
A: Monopsony is a market situation where by there are many suppliers but the buyer is only one. In this...
Q: Ways in which women and children can be protected from violence and discrimination
A: In any society, whether it is socialist, capitalist, or mixed, women and children are the most explo...
Q: Use the following model framework to conduct an intertemporal analysis of the stock pollution. In ea...
A: GIVEN time period t Mt = pollution flow (emission) At = pollution stock (concentration in atmosp...
Q: Question-1 Bill can produce either tables or chairs. Bill can work up to 10 hours a day. His product...
A: The given table shows the production combination of tables and chairs when Bill works for 10 hours.
Q: MACROENVIRONMENT ELEMENT Characteristics (Define the given element by identifying its nature, charac...
A: The area of distribution, production, and consumption of goods and services by different agents as a...
Q: What is the likelihood that firms would enter the market in the short-run? Use COVID-19 as a market ...
A: We show that,When new firms enter the industry in response to high profits, it is càlled entry. When...
Q: 2. Suriname and Paraguay consume two goods, coffee and machines, and labour is the only input into p...
A: Amount of production of both the goods in both countries can be stated as : Number of units produced...
Q: Paulina sells beef in a competitive market where the price is $5 per pound. Her total revenue and to...
A: Marginal revenue is a central concept in microeconomics that describes the additional total revenue ...
Q: The consumer surplus from a good is measured by the A) area of the triangle above the market price l...
A: We know that the marginal benefit is the additional benefit received by consuming one additional uni...
Q: True or False? Union wages are similar to those in a perfectly competitive market. The wage is deter...
A: The structure of a market where there are large numbers of sellers who sell homogenous products to c...
Q: What would have been an economic and social impact of the Baby Boom in the late 1940s and the 1950s?...
A: The answer is - The demand for teachers would increase for two decades.
Q: Provide a plausible explanation, using a demand-supply graph, for each of the following outcomes: 1...
A: In a competitive market, the equilibrium price and quantity of a good are determined at a point wher...
Q: Krystyna has a long-term consulting contract with an insurance company that guarantees her $24,000 p...
A: We can calculate the present value of the contract by using the nominal MARR. Nominal MARR can be ca...
Q: How can natural resources conflicts be prevented
A: Natural resources are the resources that are used by people and businesses. People use natural resou...
Q: 下午3:41 1月14日周五 Yuki 12.31 AP环科课程反馈,pdf ... 89. In a human population undergoing the demographic tran...
A: The study that depicts the changes which tend to occur in the human population is known as demograph...
Q: Which of the following goods would you expect to have the lowest price elasticity of demand? O Diamo...
A: Price elasticity of demand judges the responsiveness i.e it look after the sensitivity of quantity d...
Q: State the assumption of the law of demand
A: Demand: It is one of the two forces of the economy which drives the economy and the market. It is cl...
Q: # of Pickers Total # of Strawberries Picked 180 380 580 4. 780 940 6. 1080 1180 8. 1160 9. 1080 Refe...
A: The change in total production caused by adding one more unit of labour is referred to as marginal p...
Q: The following table shows how three voters ranked Policy A, Policy B, and Policy C. Which policy is ...
A: Majority Decision is the one where more than 50% of the votes are in favor of one policy.
Q: Individuals go for flu injection not only protect themselves against flu but also help to prevent t...
A: The vaccines that tend to provide protection against infection by viruses of influenza are known as ...
Q: The population of Tunisia was 11.53 million in 2017. The inflation rate in that year was 5.32% in th...
A: Inflation is the rate at which the value of a currency is falling and, consequently, the general lev...
Q: Compute the economy's GDP using the expenditure approach. Assume that all transactions are 2019. Inv...
A: Hector spent for the maintenance of his car P 70,000 per month will be considered Consumption = P ...
Q: The amount which from the transaction entered by the person who borrows money called the debtor or m...
A: Answer-
Q: A couple is considering moving to Tokyo from New York. Casey's cost of moving is S60,000, and Ashley...
A: If they move to New York, their total cost=60,000+90,000=150000 If their increased income= (550,000-...
Q: 6. Which of the following is most likely to have a high-income elasticity of demand? 1. Meals at cla...
A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...
Q: Use diagram to illustrate the Slutsky income and substitution effects of an increase in the price of...
A: The question says about the effect of income and substitution effect due to an increase in the price...
Q: If the production function describing an economy is Y= 20 KL2, then the share of income going to cap...
A: The given production function (Y), depicts the value of the output (q) yielded with capital (K) and ...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- A monopolist produces a product with price, quantity sold and marginal cost as shown in the table below. The fixed cost is $50. Price ($) Quantity Sold Marginal Cost ($) 100 1 20 90 2 30 80 3 40 70 4 50 60 5 60 (a) If the monopolist need to sell at a standard price, determine the optimal quantity, the price, and the profit of the monopolist. (b) If the monopolist can practice perfect price discrimination, determine the optimal quantity, the price and the profit of the monopolist.a profit-maximizing monopolist faces the demand curve q=200-5p. it produces at a constant marginal cost of $10 per unit. a quantity tax of $10 per unit is imposed on the monopolist's product which the monopolist should pay. the price of the monopolist's product after the tax. hint: since the conopolist will pay the tax, it increases its cost. you must write the correct cost function to solve the problem.Currently a monopolist's profit maximizing output is 400 units per week and it sells output at price of $60 per unit. The total cost of the form are $10,000 per week. The firm is maximizing it's profit and it earns $40 in extra revenue from the sale of the last unit.
- true or false The oligopolist reduces the price of the good by 10%, but the competitors reduced their prices by 8%. As a result, the oligopolist only attracts only an additional 5% consumers from his competitors, This will reduce the total revenue of the oligopolist.Suppose a monopolist's profit maximizing output is 200 units per week and that the firm sells its output at a price of $60 per unit. the firm has total cost of $9000 per week assume the monopolist is maximizing its profit and earns $30 per unit from the sale of the last unit produced each week. a. What Are the firms weekly economic profits? $ b. What is the firms marginal cost? $ c. What is the firms average total cost? $A monopolist sells 100 units at a price of $10 per unit. The average total cost per unit is $6 per unit. What is the monopolists profit? Question 8 options: a) $200 b) $300 c) $400 d) $500
- Exercise A.8 In a small town there is only one theatre, so the owner company is monopolistic and has a constant marginal cost of €10. A group of potential viewers, made up of workers, has the demand curve Q1 = 80 – P1. Another group of potential viewers, made up of retirees with lower incomes, has the demand curve Q2 = 80 – 2P2. (a) If the local authority authorises price discrimination, determine the monopolist's equilibrium and represent graphically. b) How would the result vary if you could discriminate prices? Represent graphically. c) Relate the equilibrium prices of the previous section with the elasticities of demand of the two groups of spectators. (d) If the monopolist could apply a double tranche tariff, what usage and entry fee would he set if the latter could be different for each group? What benefits would you get? Represent graphicallyA monopolist sells a product in two micro-markets. Monopolist’s MC = 20. The demand curves are given by: Micro-market #1: Q1 = 120 – P. Micro-market #2: Q2 = 80 – 2P. The monopolist is able to charge different prices in the two micro-markets. Compare the prices in the two micro-markets with the uniform price that it would charge if it had to charge the same price in both markets. The optimal prices are:At the profit maximizing output, for the perfect competitor, options: and the perfect competitor, price equals marginal cost. and the monopolist, price is greater than marginal cost. price is equal to marginal cost, but for the monopolist, price is greater than marginal cost. price is greater than marginal cost, but for the monopolist, price is equal to marginal cost.
- A monopolist has two types of customers. There are 100 of Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to $8. Neither is willing to purchase additional units at any price. If it must charge a uniform price, find that price. a. Assume that spending $80 on advertising will attract 100 more Type B customers. Should the monopolist advertise? If so, what will happen to price?The oligopolist increases the price of the good by 10% but the competitors did not follow the price increase. As a consequence, 15% of the consumers shifted to his competitors. As a result, his total revenue will increase. True False(a) A monopolist has discovered that the inverse demand function of a person with income Y for the monopolist’s product is P = 0.002Y-Q where P is the price, Y the income, and Q is the output. The monopolist can observe the incomes of its consumers and hence vary its price accordingly. The monopolist has a total cost function C(Q) = 100Q. Calculate the profit maximising price as a function of the consumer’s income Y carefully explaining all the steps in the derivation of the formula. (b) A monopolist has a constant marginal cost of £2 per unit and no fixed costs. He faces two separate markets in the United States and in the UK. The goods sold in one market are never resold in the other. He sets one price P1 for the US market and another price P2 for the UK market (both measured in £). The demand in the United States is given by Q1=7,000-700P1 and the demand in the UK is given by Q2=1,200-200P1. Calculate the profit maximising output produced and price charged in each country by the…
