a) Using the following graph state the price and quantity the firm will be at if the monopoly market is in long run equilibrium. Explain why the firm will be at that price and quantity. Price MC P3 ATC AVC P2 P1 Po MR Quantity b) State the conditions that establish the market structure monopoly, and the conditions needed for price discrimination and why firms price discriminate.

Q: In the monopoly market structure there is/are (one single seller/many sellers). One of the…

A: In monopoly market there is single seller and many buyers. In monopoly there are no close…

Q: You are the manager of a monopoly that faces a demand curve described by P = 63 – 5Q. Your costs are…

A: The question talks about monopoly. So, Monopoly refers to such a market condition where there is a…

Q: Canada Post has a monopoly on residential mail delivery. Pfizer Inc. makes Lipitor, a prescription…

A: Answer 1 : Canada Post is protected by a barriers to entry through regulation. The produce of Pfizer…

Q: Using the three characteristics of monopoly, explain why each of the following is a monopolist: A.)…

A: Monopoly is a market condition where there is a single seller. It sells a unique commodity in the…

Q: Which of the following statements are true about this natural monopoly? Check all that apply. The…

A: It is given that MC is horizontal which means no matter the quantity of output produced the cost…

Q: Explain, with the aid of a graph, the short run equilibrium position of a firm operating as a…

A: Answer: Introduction: Monopoly: monopoly refers to the market where there is a single seller and a…

Q: Alice is the monopoly producer for cosmetics in Wonderland. Market demand for cosmetics is given by…

A: Since you have asked multiple parts question, we will solve the first three parts for you. If you…

Q: Suppose the graph represent demand and marginal cost for a Price and costs $50 firm that is able to…

A: When the firms perfectly price discriminate, then the profits of firm will be the area above…

Q: Suppose a representative monopolistic firm faces the following demand function: Pi = 20-2qi where pi…

A:

Q: Q6 Given the illustration of a monopoly, provide numerical values for the levels in P and Q axes and…

A: A monopolist has the cost function: TC=200x+15x2 and faces the demand function given by: p=1200-10x…

Q: explain  what happens to a monopoly firm operating in the long-run.

A: A monopoly is a single seller that has control over the market supply. This implies monopoly is a…

Q: What is meant by price discrimination? What are the conditions to make price discrimination…

A: Price discrimination is defined as the price strategy in which the firms sell the same commodities…

Q: Explain in detail the differences between Perfect competition and Monopoly. Using completely…

A: Perfect competition is a market where price is fixed because consumers have complete information of…

Q: Output Total Total (Q) Price Revenue Cost 1 $20.00 $2.50 $15.00 $5.00 3 $10.00 $7.50 4 $5.00 $10.00…

A: Price discrimination refers to the practice of According different prices from different consumers…

Q: find the graphs for a monopoly and a regulated natural monopoly.

A: The diagram shows the monopoly with the price at the vertical line and the quantity at the…

Q: You are the manager of a monopoly that faces a demand curve described by P = 85 – 5Q. Your costs are…

A: Given that:- P = 85 - 5Q C = 20 + 5Q thus, R  = { (85 - 5Q) * Q }  = 85Q - 5Q2…

Q: What are the major characteristics of a firm competing under conditions of monopoly?

A: Some important characteristics of monopoly market are listed as follows.

Q: A perfect price discriminating monopoly produces​ _______.

A: Price discrimination refers to charging different prices for different quantities of a commodity or…

Q: One of the sources of Monopoly market power is their Economies of Scale. What will happen when…

A: When there is economies of scale in monopoly market,monopoly firms can expand their business on a…

Q: The total economic profit made by the monopoly would be the area described by the points.. MC Pat…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The graph below represents sales per week of ABC Inc. Ltd, a monopoly multinational enterprise that…

A: A monopoly is a type of market where only one player (seller) works and serves the market.

Q: Firm P has a monopoly on producing printers, and Firm C has a monopoly on producing computers.…

A: Firm P-Monopoly of Printers Firm C-Monopoly of Computers Demand function: Q=10-Pp-Pc Marginal Cost=0…

Q: Assume there is no price discrimination: Matthew, Rachel, Janice, and Mandy own the only ice…

A: If Mathew wants to sell goods as much as possible without losing money which means that marginal…

Q: “No firm is completely sheltered from rivals; all firms compete for consumer dollars. If that is so,…

A: In the era of globalization, the possibilities of trade have increased and the availability of…

Q: Price and cost (dollars per unit) S=MC PI P20 Рз e MR Q2 Q3 Quantity (units per hour) In the above…

A: In a competitive market, firms do not have any control over the market price so price is constant…

Q: Given the figure below, regulating the monopoly to guard against excessive profits and achieve the…

A: Market competition will not operate properly in the situation of a natural monopoly.

Q: What is meant by price discrimination? What are the conditions to make price discrimination…

A: Price discrimination means selling the same product to different individuals at different price,…

Q: Compare the efficiency of monopoly and perfect competition firms on the same graph by considering…

A: A perfect competitive firm maximizes profit by equating Price and MC. This is the efficient…

Q: Which of the following is not a reason for the existence of a monopoly? Select one: a. Sole…

A: Monopoly: It refers to the single product which is selling goods and services to the people. The…

Q: Compare and contrast the decision-making processes of a competitive firm versus a monopoly firm. a.…

A: Monopoly is kind of market set-up with a single buyer and very difficult to entry in such kind of…

Q: competition. Which is more efficient? Explain your reasoning and

A: Monopolist profit will maximizing where marginal cost equal marginal revenue. MR= MC  In Perfect…

Q: Pricing at Montoya Steelworks Montoya Steelworks Montoya Steelworks is a fully integrated steel…

A: Monopoly is the market situation where a single seller or producer of a certain good exists in the…

Q: Consider a market in which the demand curve is given by: P = 300 – Q Total costs for the industry is…

A: Demand Curve Graphically representing the link between a product's price and demand, the demand…

Q: For a monopoly, at the level of output where marginal revenue equals zerc Select one: a. firm has…

A: In a monopoly, there is a single firm and it produces unique good. It has a downward sloping…

Q: a) Draw a correctly labeled graph for a monopoly and show each of the following. (i) The…

A: Monopoly refers to the market structure where only single firm exists in the entire market. Monopoly…

Q: Which of the following statements is true of a monopoly as compared to a perfectly competitive…

A: When comparing monopoly market and perfectly competitive market, it can be said that there is a…

Q: Alice is the monopoly producer for cosmetics in Wonderland. Market demand for cosmetics is given by…

A: It is given that p=500-4Q And c(q)=16q

Q: C(Q) = 10Q where QQ1+Q2. a) Please write out the total profit function for the monopoly as functions…

A: Monopoly is a situation where there is a single seller in the market. In conventional economic…

Q: Consider the market demand and cost curves of a natural monopoly, as depicted in the given Figure.…

A: Here, the given graph shows cost and revenue curves of a natural monopoly.

Q: Analyze graphically the difference between monopoly and perfectly competitive market

A: The difference is given below

Q: Ms. Wong is a fitness trainer providing personal fitness training courses to her customers. She can…

A: Introduction: The profit-maximizing level of production of a monopolist is determined by equating…

Q: Suppose that the demand curve for a good is P = 100 - 2Q. The marginal cost curve of a firm in the…

A: Under perfect market competition where seller sells homogeneous products, the profit maximizing…

Q: Explain how demand is seen by a pure monopoly.

A: In a pure monopoly setting, there are strict restrictions with respect to arrival of new sellers…

Q: Consider a monopoly firm producing laptops. Below are the equations describing this firm's economic…

A: Here we calculate the statements by using the given equation and choose the correct statements , so…