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- 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 (MC = 0). If demand in market 1 isX1(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) = ai pi^(-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.A. Calculate the Price and Quantity if the Monopolist Maximized their profit and sells in both markets? B. Calculate the Profit if he Monopolist Maximized their profit and sells in both markets? C. In the absence of 3rd Degree Price Discrimination and the firm must sell at the same price in both markets, what is the price, quantity and total profitWhen a monopolist sells two units of output its total revenue is R600. When aa monopolist sells three units of output its total revenue is R690. To sell three units od output instead of only two, what must the monopolist do?
- 3. A monopolist is forced to lower its price in order to sell another unit of its product. This describes the problem of A-persistent economic profits B-market power C-diseconomies of scale D-economies of scale E-market discrimination 5. 5. (04.02 MC) The allocatively efficient quantity of product Z for the whole market is 2 million units. At that quantity, the demand for Z is at $5 and the average total cost for its single supplier is $7. The average total cost does not fall to $5 until 3.5 million units. Based on this data, the market for product Z is (2 points) A-perfectly competitive B-a natural monopoly C-a legal monopoly D-monopolistically competitive E-productively efficientA monopoly can sell 20 units of output for $18 per unit. Alternatively it can sell 21 units of output for $16 per unit. The marginal revenue of the 21st unit of output is...True/ False There is a price discrimination in the monopoly market.
- monopolyStart from a market where a monopoly prevails. Select the option or options below that are correct. Select one or more options: a-The monopolist maximizes profit where MR = MC b-A monopolist always has the opportunity to make a profit c-The individual monopolist has no market power as it meets a completely elastic demand. d-The monopolist will charge a higher price than the marginal cost of the selected quantity. e-The monopolist is free to choose the price charged for a given quantity because consumers have no competitor to go toInitially, a profit maximizing local monopolist charges $15 and sells 500 units per week. Per unit variable cost is $10. Now assume the local government begins to provide 100 units per week at the market price. As a result, the market price falls to $13 and the quantity sold by the monopolist falls to 430. a) Find the changes in Consumer surplus , Producer surplus , and Government surplus created by the monopoly. b) Assume the METB (marginal excess tax burden)is 0.25. Find the changes in SS. c) Depict all of this in a diagram.27. Price discrimination creates economic inefficiency. False True True, if the firm is a monopolist, otherwise false. True, if the firm is perfect competitor, otherwise false.
- Consider a monopolist with a demand equation P = 60 - 2Q, where P is the price in dollars and Q is the quantity. The monopolist is able to produce the output with a constant marginal cost of $20 which is equals to the average total cost. Assume that there is no fixed cost. A. If the monopolist practice single pricing, determine the price, quantity, profit, consumer surplus and producer surplus in this market with the aid of a suitable diagram. Appraise the efficiency in this market. B. If the monopolist were to practice perfect price discrimination, determine the quantity, profit, consumer surplus and producer surplus of the monopolist. Appraise the efficiency in this market. C. Consumers and the society are always worse off in a monopolised market compared to a perfectly competitive market. Do you agree? Examine the two (2) market structures and explain with the help of a suitable market diagram.Q24 Monopolists, like firms in other market structures, strive to maximize profit. Microsoft when it first came out with its Windows operating system was thought to be a monopolist. Assume that Microsoft is a monopolist producing an output such that ATC = $11, P = $9, MC = $5, MR = $6, and AVC = $4.50. Microsoft is realizing Multiple Choice an economic loss that could be reduced by producing more output. economies of scale. an economic profit that could be increased by producing less output. an economic loss that could be reduced by producing less output.XYZ company uses a technology for producing its good. This enables the firm to meet the entire market demand at a lower price than its two competitors. What factor makes XYZ company a monopolist? a. increasing average total costs. b. a legal barrier to entry. c. Knowledge of exclusive production techniques d. All of these
