il Verizon 7 92% 10:27 AM Back Handout4_Mono... Revenue and cost per unit $30 MC 24 ATC 22 20.80 20 18 Demand MR 0 62 83 104 Quantity Figure 15-2 shows the cost and demand curves for a monopolist 4) Refer to Figure 15-2. Assume the firm maximizes its profits. What is the amount of consumer surplus? A) $21 B) $124 C) $186 D) $332 5) Refer to Figure 15-2. What is the amount of consumer surplus if, instead of monopoly, the industry A) $21 B) $124 C) $186 D) $332 organized perfectly competitive industry? was as a organized 6) Refer market output and market price would be A) output 62; price = $24. B) output 83; price C) output D) output 104; price = $20.80 Figure 15-2. If this industry perfectly competitive industry, the to were as a $22 = 62; price = $18 7) Refer to Figure 15-2. If the firm maximizes its profits, the deadweight loss to society due to this monopoly is equal to the area A) ABF. В) ABEG. C) ACE D) EFG. 7 Notifications Dashboard Calendar Inbox To Do

Question

How would you solve these

il Verizon
7 92%
10:27 AM
Back Handout4_Mono...
Revenue
and cost
per unit
$30
MC
24
ATC
22
20.80
20
18
Demand
MR
0
62
83
104
Quantity
Figure 15-2 shows the cost and demand curves for a monopolist
4) Refer to Figure 15-2. Assume the firm maximizes its profits. What is the amount of consumer
surplus?
A) $21
B) $124
C) $186
D) $332
5) Refer to Figure 15-2. What is the amount of consumer surplus if, instead of monopoly, the
industry
A) $21
B) $124
C) $186
D) $332
organized
perfectly competitive industry?
was
as a
organized
6) Refer
market output and market price would be
A) output 62; price = $24.
B) output 83; price
C) output
D) output 104; price = $20.80
Figure 15-2. If this industry
perfectly competitive industry, the
to
were
as a
$22
=
62; price
= $18
7) Refer to Figure 15-2. If the firm maximizes its profits, the deadweight loss to society due to
this monopoly is equal to the area
A) ABF.
В) ABEG.
C) ACE
D) EFG.
7
Notifications
Dashboard
Calendar
Inbox
To Do

Image Transcription

il Verizon 7 92% 10:27 AM Back Handout4_Mono... Revenue and cost per unit $30 MC 24 ATC 22 20.80 20 18 Demand MR 0 62 83 104 Quantity Figure 15-2 shows the cost and demand curves for a monopolist 4) Refer to Figure 15-2. Assume the firm maximizes its profits. What is the amount of consumer surplus? A) $21 B) $124 C) $186 D) $332 5) Refer to Figure 15-2. What is the amount of consumer surplus if, instead of monopoly, the industry A) $21 B) $124 C) $186 D) $332 organized perfectly competitive industry? was as a organized 6) Refer market output and market price would be A) output 62; price = $24. B) output 83; price C) output D) output 104; price = $20.80 Figure 15-2. If this industry perfectly competitive industry, the to were as a $22 = 62; price = $18 7) Refer to Figure 15-2. If the firm maximizes its profits, the deadweight loss to society due to this monopoly is equal to the area A) ABF. В) ABEG. C) ACE D) EFG. 7 Notifications Dashboard Calendar Inbox To Do

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