Suppose that a price-discriminating monopolist has segregated its market into two groups of buyers, as shown by the following tables. a. Calculate the missing TR and MR amounts for Group 1. Instructions: Enter your answers rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Group 1 Tutul Group 2
Suppose that a price-discriminating monopolist has segregated its market into two groups of buyers, as shown by the following tables. a. Calculate the missing TR and MR amounts for Group 1. Instructions: Enter your answers rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Group 1 Tutul Group 2
Chapter9: Monopoly
Section: Chapter Questions
Problem 6SQP
Related questions
Question
I was able to do the table but I am not able to figure out or figure out the formula for figuring out (b)(c)(d)
Transcribed Image Text:55
55
48
42
37
33
29
$
T
5
6
7
8
9
10
$ 275.00S
S
$
288.00 $
294.00 $
$
296.00 $
$ 297.00 $
$ 290.00 $
25,00
13.00
6.00
2.00
1.00
3.00
55
55
48
42
37
33
29
2
3
4
5
6
7
d. What will be this monopolist's total economic profit?
288
Instructions: Enter your answers as a whole number.
b. Assume that MC is $13 in both markets and MC = ATC at all output levels. What price will the firm charge in each market?
Group 1:
6 units will be produced at a price of $
Group 2:
6 units will be produced at a price of $
c. Based solely on these two prices, which market has the higher price elasticity of demand?
198
O The first market has the higher price elasticity of demand.
O The second market has the higher price elasticity of demand.
பப
110
144
168
185
198
203
334
47
34
24
17
13
5
Transcribed Image Text:nment Ch 11 12
Suppose that a price-discriminating monopolist has segregated its market into two groups of buyers, as shown by the following tables.
a. Calculate the missing TR and MR amounts for Group 1.
Instructions: Enter your answers rounded to two decimal places. If you are entering any negative numbers be sure to include a
negative sign (-) in front of those numbers.
Price
$115
100
83
71
63
55
48
42
37
33
29
Group 1
Quantity
Demanded
0
1
2
3
4
5.
6
7
8
9
10
Total
Revenue
$ 115.00
$ 100.00
$ 166.00
$
$ 252.00 $
$ 275.00
288.00
294.00
296.00
297.00
290.00
LA LA LA LA LA
Marginal
Revenue
$
مام
$
LA LA LA LA LA
213.00 $
$
$
$
$
NANK
$
$
-.
100.00
66.00
47.00
39.00
25.00
13.00
6.00
2.00
1.00
3.00
Price
-
-
-
$71
63
55
48
42
37
33
29
Quantity
Demanded
-
-
W|N1|O
0
2
3
4
5
6
7
Group 2
Saved
288
Total
Revenue
T
-
$0
63
110
144
168
185
198
203
Marginal
Revenue
-
-
-
$63
47
34
24
17
13
5
Instructions: Enter your answers as a whole number.
b. Assume that MC is $13 in both markets and MC = ATC at all output levels. What price will the firm charge in each market?
Group 1:
6 units will be produced at a price of $
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
