Techvana is the manufacturer of a new drug which they obtained a patent for. The marginal cost of production is $175 per bottle and the elasticity of demand is estimated to be 1.86. What is the optimal price Techvana should charge for a bottle?     $94.09     $113.81     $378.49     $325.5   Grizzly Gear manufactures and sells its top tier snowshoes for $1839. Marginal cost of production per pair is $1100 and fixed cost is $362. What is the markup charged on a pair of snowshoes?     $1839     $1477     $377     $739

Q: uppose Bedox is a patent drug for man’s beauty. Her manufacturer faces a market demand for Bedox of…

A: The profit is maximized where the Marginal Revenue is equal to the Marginal cost. or  MR = MC.

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A: Marginal value: The money a company earns from each new sale is known as marginal revenue. Profit…

Q: Virat Cement is a monopolist in the cement industry. Its cost is C = 100 - 5Q + Q ^ 2 and demand is…

A: A monopolist maximizes profit where: Marginal Revenue = Marginal Cost  Marginal Revenue = dTR/dQ…

Q: In a perfectly competitive market, one of the following answers is correct with respect to the…

A: A perfect competition marketplace is one in which multiple enterprises compete to sell the same…

Q: For each example, select the type of price discrimination (first degree, second degree, third…

A: 1. First degree Price discrimination-  In the first degree Price discrimination monopolist charges…

Q: If entry restrictions are coupled with rules prohibiting price competition, monopoly-level prices…

A: In practice, monopolies are rarely formed as a result of natural resource management. Economies are…

Q: Suppose a profit-maximizing monopolist is producing 1100 units of output and is charging a price of…

A: Answer: Given that:   Suppose a​ profit-maximizing monopolist is producing 1100 units of output and…

Q: Each consumer has the following demand for annual visits to Planet Fitness: Q = 100 - P, where Q is…

A: According to the question,  For annual visits to Planet Fitness, each customer needs the following…

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A: The level with which the quantity demanded of a good changes with a change in its price is referred…

Q: You own a private parking lot near City University with a capacity of 600 cars. The demand for…

A: Marginal cost is the change in total cost of production as a result of manufacturing or building…

Q: Which of the following statements about a monopoly practicing perfect price discrimination is…

A: First degree price discrimination(Perfect price discrimination): the monopoly seller of a good or…

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A: The profit-maximizing price and quantity are determined at the intersection of the demand and supply…

Q: . Classify the following as a government-enforced barrier to entry, a barrier to entry that is not…

A: A) govt enforced barriers to entry  Because govt provides patent for a fixed period to inventions so…

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A: The markets are the place where the sellers, or the suppliers of various goods, services, and other…

Q: In some cities, Uber has a monopoly on ride-sharing services. In one of these cities, the demand…

A: 50 – 2Q = 10        40 = 2Q During weekends: Demand curve:   P= 50 – Q Total Revenue: TR = P…

Q: A natural monopoly is most likely to occur in which of the following industries?   Group of answer…

A: A natural monopoly occurs when the most efficient number of firms in the industry is one. In all of…

Q: (Q: 12-2508858) A single-price monopolist faces an inverse demand function of: P(Q,B) = 100-Q+B a…

A: P=100-Q+B0.5 Profit=Total Revenue- Total Cost TR=P*Q TR=(100-Q+B0.5)Q TR=100Q-Q2+B0.5Q TC= Total…

Q: If entry restrictions are coupled with rules prohibiting price competition, monopoly-level prices…

A: Entry restrictions are imposed on new producers in the form of patents, copyrights, licensing, and…

Q: Suppose Bedox is a patent drug for man’s beauty. Her manufacturer faces a market demand for Bedox of…

A:

Q: The demand function for a monopolist is given by: P1 = 1,250 – 3.5Q and the cost function is given…

A: As the patent has been expired, the market will convert from monopoly to perfect competition as all…

Q: If the government intends to use the price ceiling control on monopolies to maximize their output,…

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Q: Q)The demand curve for a monopolist is _____ sloping, so to sell more goods and services, the…

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A: Total Cost Refers to the addition of all types of costs that have been incurred in the process of…

Q: monopolist is currently selling 400 units of output at a price of $20 per unit. The elasticity of…

A: Elasticity of demand depicts how much consumer responds with the change in the price level.

Q: The demand function for a monopolist is given by: P1 = 1,250 – 3.5Q and the cost function is given…

A: Given that; Demand function of the monopolist is P=1250-3.5Q   .......... (1) Cost function:…

Q: Firm M is a monopolist with marginal cost of $8/unit. When maximizing profit, Firm M charges a price…

A: The price elasticity of demand for a good is a measure of how price affects the quantity demanded.…

Q: Suppose an airline sells air tickets to two types of customer – business travelers and vacation…

A: Price can be calculated by using the following formula.

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Q: Gaynor is the only manufacturer of gas pumps that automatically refill. Gaynor can earn a profit on…

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Q: A monopoly firm maximizes its profit by producing Q = 500 units of output. At that level of output,…

A: In monopoly firm profit maximizing output level is that output level where Marginal cost is equal to…

Q: Using supply and demand analysis, explain what happens to the market price and quantity of a…

A:

Q: Assume the first year demand curve for a new drug Livehappy is given by Q=2000-P, where P is the…

A:

Q: Plaex Building Systems Inc., a startup firm based in Hampstead, New Brunswick, is a monopolist…

A: The formula is:TR=P*QTR(9)=9*50=450Also, TR=TR(n-1)+MR(n)TR(10)=450+30=480

Q: Merriwell Corporation has a virtual monopoly in the ultra high speed computer market. Merriwell has…

A: a) A single rental rate monopolist will maximize profit when:-…

Q: Assume a single-price monopolist has an inverse market demand curve given by P(Q)=300-0.5Q, and has…

A: P(Q)=300-0.5Q Q = 600 - 2P C(Q)=125+20Q+0.5Q2. MC = dC/dQ MC = 20 + Q Quantity = 140 units Economic…

Q: A Park charges $50 for students and $100 for everyone else. If the price elasticity of demand for…

A: Elasticity of demand is defined as type responsiveness of the quantity demand when price of the…

Q: Each consumer has the following demand for annual visits to Planet Fitness: Q = 200 - P (or P = 200…

A: *Answer:  Step 1 Given:Q=200−P  MC=$10   In optimal two−part tariff, P=MC P=$200 Now, Q = 200−P…

Q: Merriwell Corporation has a virtual monopoly in the ultra high speed computer market. Merriwell has…

A: Solution:- (I) With single pricing, MR = MC. TR = PQ = 45Q - 0.025Q2 MR = dTR/dQ = 45 - 0.05Q 45 -…

Q: Suppose a profit-maximizing monopolist is producing 1100 units of output and is charging a price of…

A: Given that, Q = 1100units      P = $60 Ed = -3 In the monopoly there is a single firm who controls…

Q: Paradise Cruises has a monopoly in renting luxury yachts for sailing in the Caribbean Sea. In summer…

A: Monopoly market is a place where there is a single seller and many buyers.   We Know that MR = MC is…

Q: a. In the United States drug companies can receive a patent of 100 years for each drug they develop…

A: Pharmaceutical industry refers to one of the sectors that produces diffee type sof drugs to be used…

Q: There are two competing Internet-based providers of medical information suitable for patients.…

A: PP = Price charged by ProPatient = $150 PA = Price charged by AskU health = $125 M= Marketing…

Q: The Amazing Restaurant is the only restaurant in Amazing Island. The restaurant provides dining…

A: We use the mark-up formula as mentioned above which is: P - MCP = -1e where P is the price, MC is…

Q: Market demand for the nuclear substance pluranium is given below, along with the TR for the given…

A: Marginal revenue is the additional revenue earned with an additional unit sold. Marginal revenue =…

Q: Moderna is a pharmaceutical company. If it receives a patent for a new medicine, which of the…

A: Moderna have the right to prevent others from copying, manufacturing, selling, or importing your…