QUESTION 3 You are considering subscribing to ESPN+. You are willing to pay up to $83 per year for a subscription. The current annual price is $26. Calculate your consumer surplus under these circumstances. QUESTION 4 은 180 168 156 144 132 120 108 96 84 72 60 48 36 24 12 0 0 45 90 135 180 225 270 315 360 405 450 495 540 585 630 675 Quantity -PMRMC-AC A monopoly face the following demand, marginal revenue and marginal cost functions Note that in this case MC(Q) = AC(Q) for all Q. 19,440 O 19,100 O 14,500 Calculate the monopoly's profits if the monopoly charges the single profit maximizing price O 18.550

QUESTION 3 You are considering subscribing to ESPN+. You are willing to pay up to $83 per year for a subscription. The current annual price is $26. Calculate your consumer surplus under these circumstances. QUESTION 4 은 180 168 156 144 132 120 108 96 84 72 60 48 36 24 12 0 0 45 90 135 180 225 270 315 360 405 450 495 540 585 630 675 Quantity -PMRMC-AC A monopoly face the following demand, marginal revenue and marginal cost functions Note that in this case MC(Q) = AC(Q) for all Q. 19,440 O 19,100 O 14,500 Calculate the monopoly's profits if the monopoly charges the single profit maximizing price O 18.550

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter6: Simple Pricing

Section: Chapter Questions

Problem 9MC

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Where did the numbers come from for this part? And the membership fee will be equal to the consumer surplus, that will be: 5$200-$349.25=$4,851
Post-merger T-Mobile/Sprint is developing new data plans targeted to certain regions of the country. Using billing records for customers in the west coast (CA-OR-WA) region, the priong team has determined that typical data usage can be estimated with the following demand: Q 1600-100P (where P is in cents per MB; and Q is in MB) And the pricing team has proposed the following charges: First 400 MB @ 5¢ Next 200 MB @ 3¢ Remaining MB @ 14 What will be the consumer surplus generated by the typical west coast customer, given this pricing schedule, if the customer uses marginal decision-making? If west coast consumers choose quantity based on the average price per MB, will quantity increase or decrease relative to marginal decision making? a) CS with marginal decision making: $92.50; using average price leads to consuming less than the optimal amount.
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Please answer only subquestion b) from: https://www.bartleby.com/questions-and-answers/the-supply-and-demand-for-wheat-in-the-small-country-tinyland-are-qs-p-and-qd-400-p-respectively.-th/5d8ab60d-7ce6-4200-bf32-3b8b6d1d5a88?source=intercept
You are considering subscribing to ESPN+. You are willing to pay up to $85 per year for a subscription. The current annual price is $35. Calculate your consumer surplus under these circumstances.
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A AWB Company is interested in obtaining quick estimates of the supply and demand curves for coal. The firm's research department informs you that the elasticity of supply is approximately 1.7, the elasticity of demand is approximately -0.85, and the current price and quantity are $41 and 1,206, respectively. Price is measured in dollars per ton, quantity the number of tons per week. Estimate linear supply and demand curves at the current price and quantity. Illustrate both curves on a diagram. What impact would a 10% increase in demand have on the equilibrium price and quantity? Illustrate this impact on similar diagram in part (i) If the government refused to the price increase when demand increased in (ii) above,how much shortage is created?. Mark the shortage on the diagram in part (ii)
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