Price discrimination by a monopolist refers tocharging different prices based ona. the consumer’s willingness to pay.b. the consumer’s racial or ethnic group.c. the cost of producing the good for a particularconsumer.d. whether the consumer is likely to become arepeat buyer
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charging different prices based on
a. the consumer’s willingness to pay.
b. the consumer’s racial or ethnic group.
c. the cost of producing the good for a particular
consumer.
d. whether the consumer is likely to become a
repeat buyer
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- What would happen to the following if there is anincrease in marginal cost? (a) The price that the monopolist can charge. (b) The quantity that the monopolist will produce. (c) The quantity that the perfectly competitive industry will produce. (d) The maximum profit of the perfectly competitive industry. .Economics all parts please definetlu u get upvote and good rating 1) wich of the following is not an assumption of the theory of monopoly? Group of answer choices there is only one seller in the industry the seller sells a product for which there are no close subsitutes the seller has high variable costs there are high barriers to entry into the industry 2) which of the following is the best example of a barrier to entry into a monopolistic industry? Group of answer choices diminishing returns economies of scale comparative advanage high elasticity of demand 3) a price searcher Group of answer choices faces a horizontal demand curve is a seller that searches for good employees and pays them low wage is a seller that searches for the best price at which to buy its nonlabor inputs is a seller that has the ability to control, to some degree the price of the product it sells 4) the marginal revenue curve lies above the demand curve for a Group of answer choices monopoly firm…True of False: A monopolist selling cars in New York finds it unprofitable to raise price by 10% above the current level. Thus, the relevant market is cars in New York.
- Price Discrimination: You own a set of sports memorabilia that you could sell in Rochester and Minneapolis. You could sell them as a bundle or seperately in Rochester or Minneapolis. You know the WTP of your customers/collectors in both cities (see below for the WTP). You costs are $1000 for the Rochester memorabilia and $3000 for the Vikings memorabilia. A. if arbitrage is NOT possible, what is the profit you sell the movies as a bundle versus as singles in both cities? B. if arbitrage IS possible, what profit would you make if you sell them as a bundle in both cities? WTP for Roch Mem. WTP for vikings mem. rochester 12,000 7000 minneapolis 4000 15,000A)Use the following schedule for monopolist to create TR,MR and find estimation.include weather demand in elasticIn Karachi Nuplex Cinema has a monopoly on the rights to show movies throughout the city. The monopolist knows the price elasticities of demand for movies by children and adults which are 4 and 0.22 respectively. Suppose the monopolist can charge different prices for the children and adults. Explain why the monopolist can charge different prices. Explain for whom shall the monopolist charge higher prices and why. Draw graph to support your answer.
- Is a monopoly always bad for society? a. No. For example, patents on medications create monopolies, and increase the price and reduce the quantity sold, but without them, no one would take the high costs of developing new drugs and the quantity will be... zero! b.Monopoly is not bad if its owner gives back to society in charity. c.Yes, Monopoly is always bad d. None of the other answers is correctWhat is the main issues/criticism in monopoly market.A monopolist faces a demand curve p=150-q. Currently MC=AC=50. The monopolist is able to develop a cost-saving device which will lower their cost to MC=AC=30.a) How much will profits increase after the introduction of the new technology?b) If it costs the monopolist $3000 to develop this technology would they? If not what would be their maximum they would pay to develop this technology?c) If this industry were perfectly competitive, with the same cost, how much could a patent holder earn for this technology?
- On average, the price of a patented pharmaceutical drops between 30 and 50 percent after the patent expires. Explain why this occurs. (Do not use AI).When a monopolist produces 3030 units, total cost of production is $300$300. When a monopolist produces 4040 units, the total cost is $400$400.What is the firm's marginal cost? Write the exact answer. Do not round.What economic formula or graph does the Anti-Trust Department follow before they decide to break up a monopoly? Multiple Choice They look to see if MC=MR is beyond $10 billion. They try to calculate if price elasticity is less than .25 and inelastic. They do not use any commonly known formulas or graphs. Often times it is based on normative economics and/or it could be politically motivated. The number of registered consumer complaints must be beyond 10,000.
