MC $22 ATC 18 16 AVC 14 D = AR 11 MR Q 12 17 22 Based on the above graph for a monopolist, at the profit-maximizing level of output, the monopolist is making economic profit of: -$34 O $0 $272 -$306
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- lf a monopolist can find buyers for 23 units at a price of $800, and if the marginal revenue due to the 24th unit is $560, the highest price at which the monopolist can find buyers for 24 units must be:Select one:O a. 780O b. 785Oc. 790 O d. 794Oe. 798Q-3: A monopolist sells in 2 markets and produces in 1 factory. Although the monopolist can charge difference prices in the two markets, it must sell all units within a market at the same price.a) Suppose this monopolist does not have a marginal cost (M C = 0). If demand in market 1 is X1(p1) = a1 −b1p1 and demand in market 2 is X2(p2) = a2 −b2p2, set up the monopolist’s profit maximization problems and solve for the market prices that result in each market.b) Under what conditions on a1, b1, a2, b2 from above will the monopolist not price discriminate?c) If demand in market i, where i = 1 , 2, is instead Xi(pi) = aipi−bi and the monopolist has some constant marginal cost of c, where c > 0, set up the monopolist’s profit maximization problem and solve for the market prices.d) Under what conditions on a1, b1, a2, b2 from above will the monopolist not price discriminate?There are 5 subparts to this Questionn. please consider a market served by a monopolist. The monopolist has a linear marginal cost (shown here as Marginal Private Cost, MPCM) and a downward-sloping demand curve D0. Here is a graphical representation of that market. See attached image for graph. 1) As noted in the introduction for Questions 1 through 5, the market is served by a monopolist. Assume that this monopolist is making a positive economic profit. Add any necessary curve(s) to the graph shown above and graphically indicate: The original monopoly price P0 and monopoly quantity Q0. The “socially optimal” output (the output the Benevolent Dictator would choose) QSO. The resulting Consumer Surplus CS0, the resulting Producer Surplus PS0, and the size of Dead-Weight Loss DWL0 if there is such a loss. Positive economic profits π0. (Note that here we asking you to graphically depict the total profits earned by the monopolist and not just the profits earned per unit sold. You may…
- Give at least five purposes of tobacco regulation act of 2003 (R.A. 9211)Suppose that sales revenue (S) depends upon the quantity of advertising (A), in a relationship estimated as: S= 14 + 16A-2A2 Task: how many unit of advertising should be undertaken to maximize sales?17- Intellectual property law is a body of law that includes Group of answer choices the right of inventors to produce their inventions the right of inventors to sell their inventions trademark, patent and trade secret legislation copyright legislation, as well as all of the above
- 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 = 70 - 0.25P, and the marginal cost of production is $100.a. Determine the optimal number of units to put in a package. unitsb. How much should the firm charge for this package?$Assume a monopolist produces rum and knows there are two groups of rum consumers, 1 and 2, with different price elasticities. Group 1 is highly price elastic with E1=-10; Group 2 exhibits a lower price elasticity of E2=-2.5. Assume the company can separate these two groups (e.g., by handing out special ID cards) and can charge two different prices. If P2=$14, how much can it charge to Group 1?Suppose that a monopolist supplies a product in two distinct markets, LA and SF. The demand functions for thetwo markets are PLA = 52 – 4QLA and PSF = 70 – 7QSF. The monopolist has a fixed cost of $20 and a constantmarginal cost of $10 per unit.a. If segmenting is feasible, what are the profit-maximizing prices, quantities, and maximized profit?b. If segmenting is NOT feasible, what is the profit-maximizing price, quantity, and maximized profit?c. How much is the difference in total consumer surplus in the two cases? Which case makes consumers better off?
- A more precise description of the demand conditions show that it also depends on a number of other factors, including the CO2 quota price, the interest rate and the price of electricity in the Nordic wholesale market, Nordpool. An overall demand function can thus be described as: Q = 33.33 - 0.000004167 * P + 0.04167 * PCO2 - 0.4167 * r - 0.00833 * Pel, where Q is the quantity sold, P is the price, PCO2 is the price of the EU's CO2 quotas, measured in euros per tonnes, cf. Chart 1, r is the banks' average lending rate measured in per cent. pa., and Pel is the Nordpool wholesale price of electricity excl. network and system tariffs as well as charges, measured as Danish kroner per MWh (mega-watt-time). P can here be set to DKK 4,000,000, PCO2 can be set to 62, r to 2.37 and Pel can be set to 250. Define the concept of price elasticity more generally and calculate the price elasticity as well as the cross-price elasticities with regard to the CO2 price, the interest rate…A pure monopoly sells 6 units of a product per day at a unit price of $15. If it lowers the price to $14, its total revenue increases by $22. This implies that its sold output increases by _____. rev: 05_15_20183-5
