E 巴 E (Dollar punith Quantity (Units) 8 300 7 400 6 500 5 600 4 700 3 800 2 1 900 1,000 Refer to Table 16-2. The monopolist has fixed costs of $1,000 and has a constant marginal cost of $2 per unit. If the monopolist were able to perfectly price discriminate, how many units would it sell? a. 400 b. 4,200 Oc. 900 d. 500
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- Imagine that you ale managing a small firm and thinking about entering the market of a monopolist. The monopolist is currently charging a high price, and you have calculated that you can make a nice profit charging 10 less than the monopolist. Before you go ahead and challenge the monopolist, what possibility should you consider for how the monopolist might react?How can a monopolist identify the profit-maximizing level of output if it knows its total revenue and total cost curves?Imagine a monopolist could charge a different price to every customer based on how much he or she were willing to pay. How would this affect monopoly profits?
- If public utilities are a natural monopoly, what would be the danger in deregulating them?What is the usual shape of a total revenue curve for a monopolist? Why?Draw a monopolists demand curve, marginal revenue, and marginal cost curves. Identify the monopolists profit-maximizing output level. Now, think about a slightly higher level of output (sayQ0+1). According to the graph, is there any consumer willing to pay more than the marginal cost of that new level of output? If so, what does this mean?
- From the graph you drew to answer Exercise 11.6, would you say this transit system is a natural monopoly? Justify. Use the following information to answer the next three questions. In the years before wireless phones, when telephone technology requited having a wile matting to every home, it seemed plausible that telephone service had diminishing average costs and might require regulation like a natural monopoly. For most of the twentieth century, the national U.S. phone company was AT&T, and the company functioned as a regulated monopoly. Think about the deregulation of the U.S. telecommunications industry that has occurred over the last few decades. (This is not a research assignment, but a thought assignment based on what you have learned in this chapter.)Figure 6 Price $95 and cost per unit 70 59 35 20 panja 580 835 MR 1740 2204 ATC MC D Quantity 12) Refer to Figure 6 to answer the following questions. a) What quantity will this monopoly produce and what price will it charge? b) Suppose the monopoly is regulated. If the regulatory agency wants to achieve economic efficiency, what price should it require the monopoly to charge? c) To achieve economic efficiency, what quantity will the regulated monopoly produce? d) Will the regulated monopoly make a profit if it charges the price that will achieve economic efficiency? e) Suppose the government decides to regulate the monopoly by imposing a price ceiling of $35. What quantity will the monopoly produce and what price will the monopoly charge? f) With the price ceiling of $35, what profit will the monopoly earn?Willingness to pay for Spreadsheet and Word Processing Programs Consumer Type Number Spreadsheet Word Processor Both A. 1,000 100 150 250 1,000 200 200 400 1,000 250 100 350 D. 1,000 150 300 450 What price would a mompolist that sold spreadsheels only, charge if his unit cost is 10? O 100 150 200 250
- Figure: A Profit-Matimizing Monopoly Firm Price, marginal revenue, marginal cost, average total cost $35 ATC 29 26 160 220 250 300 Quantity of output per week) (Pipure. A Protin-Maximining Monopoly Finn) The profin-miing fiem in this fipre will prodace A) 160 B) 220 C) 250 D) 300 its of ourput per week (Pigure: A Profit-Masimining Monopoly Finm) This profit-matimining monopoly fimi's cost per unit at its profintinizing quantity is A) 38. B) $15. C) $16. D) $18. (Pigure: A Profie-Macimining Monopoly Fim) This profit-maximizing monopoly firmts price per unit is A) $20. B) $26 C) $29. D) $35. (Figure. A Profit-Marimining Monopoly Fim) This profn-matimizing monopoly firm's profit per unit is: A) $5. B) $13. C) $14. D) $20.Graph shows the cost and revenue information for Shitotsu the monopolist. What are the levels of price, output, total (sales) revenue. and total profits if the monopolist were to produce at the positions (a) through (d) indicated in table below? Costs and revenues 30 27 24 21 18 15 9 6 3 0 3 6 9 12 15 Quantity per period 18 21 MR D=AR MC ACFigure: A Profit-Maximizing Monopoly Firm Price, marginal revenue, marginal cost, average total cost A) $5. OB) $13. C) $14. $35 D) $20. 29 26 రారాళి 8 5 0 (Figure: A Profit-Maximizing Monopoly Firm) Look at the figure A Profit-Maximizing Monopoly Firm. This firm's profit per unit is: MC ATC MR 160 220 250 300 Quantity of output (per week)