If, in a monopoly market, the demand function for a product is p = 160 − 0.10x and the revenue function is R = px, where x is the number of units sold and p is the price per unit, what price will maximize revenue? $ ______
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If, in a
and the revenue function is
where x is the number of units sold and p is the
$ ______
Demand function shows the functional relationship between Quantity demanded for a commodity and its various Determinants. The quantity demanded is inversely related to price of the products, i.e., if prices fall, the demand will increase.
here we calculate the price of maximum revenue by the following method as follow;
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- If, in a monopoly market, the demand function for a product is p = 195 − 0.80x and the revenue function is R = px, where x is the number of units sold and p is the price per unit, what price will maximize revenue?$Assume a monopoly has two groups of customers, and each group of customers has different demand for the firm's product. Group A's demand is: Pa = 90 - .1qa where qa is group A's quantity demanded and Pa is the commodity's price in dollars for group A customers. Group B's demand is: Pb = 170 - .2qb where qb is group B's quantity demanded and Pb is the commodity's price in dollars for group B customers. The firm's total cost curve is: TC = 30,000 + .05q2 where TC is the firm's total cost in dollars and q is the total quantity of output produced by the firm. Based upon the above equations, answer the following questions: a. What quantity of the commodity would the firm sell to customers in group B? What price would the firm establish for customers in group B? b. What quantity of the commodity would the firm sell to customers in group A? What price would the firm establish for customers in group A?Give only typing answer with explanation and conclusion The market demand for a monopoly firm is estimated to be: Qd = 100,000 - 500P + 2M + 500PR where Qd is quantity demanded, P is price, M is income, and PR is the price of a related good. The manager has forecasted the values of M and PR will be $50,000 and $20, respectively, in 2016. The average variable cost function is estimated to be AVC = 520 - 0.03Q + 0.000001Q2 Total fixed cost in 2016 is expected to be $4 million. The profit-maximizing price for 2016 is $80. $100. $260. $520. $560.
- Suppose a monopoly firm has an annual demand function of Qd = 20,000 - 250P, annual variable costs of VC = 16Q + 0.002Q2 and marginal cost of MC = 16 + 0.004Q, where Q is the annual quantity of output. In addition, the firm has an avoidable fixed cost of $25,000 per year. If this firm maximizes its profit, what is the value of the consumer surplus in the market?assume that a firm has a monopoly power in the product market and faces perfect competition in the factor market. if the price elasticity of demand for the product of the firm is -4 and the VMPL is 40, then, the MRPL is?A monopoly sells 30 units of output when price Ksh 12 and 40 units when price is Ksh 10. If its demand schedule is linear, what is the specific form of the actual demand function? Use this function to predict quantity sold when price is Ksh 8. What domain restrictions would you put on this demand function?
- If, in a monopoly market, the demand for a product is p = 195 − 0.10x and the revenue function is R = px, where x is the number of units sold, what price will maximize revenue? (Round your answer to the nearest cent.)Give the production function: Q(K,L) = L + K2a. Find the total cost function (TC) if w = $2 (wage price) and r = $20 (capital price).b. If the market function of demand is q = 45 - 3p/2, what price will you charge if the firm acts as a monopolist? Find also the optimal quantity of output, surplus, and profit.c. If it is a perfectly competitive firm, how much will it produce and at what price? Find the surplus and the loss due to economic inefficiency generated by the monopoly.d. Represent graphically situations b. and c.A monopoly function for a firm given ? = 20 − 0.2? where ? is price and ? is output. Find (a) Total revenue function (b) Average revenue function (c) Marginal revenue function (d) ? = dq/dp , p/q at ? = 50 and show that at this ∈ value, ?$(?) = 0.
- The function Q= 14 - P represent the market demand. The cost function of the monopolist is C= 2Q. a) Find quantity, price and profit of the monopolist. b) Given the results of point (a), what is the firm's percentage mark-up of price over marginal cost? c) Suppose that now we have a market demand with elasticity equal to -2. If the price is 8, what should be the marginal cost of the last unit produced?Consider a market with 190 consumers. Of these, 90 of them have individual (inverse) demands given by: PM(Q)=10−Q, while each of the other 100 has an individual (inverse) demand of PS(Q)=10−10Q. The cost function of the monopolist serving this market is C(Q) = 6Q - Q^2/400 . (a) Find the aggregate demand. Analyze the cost function and find what kind of returns to scale it exhibits. Compute the efficient total output (ignoring break-even constraints).(b) Compute the optimal linear price (and quantity) for this monopolist, and the deadweight loss.A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 50 - 0.25P, and the marginal cost of production is $120. Determine the optimal number of units to put in a package. How much should the firm charge for this package?
