EBK MICROECONOMICS
21st Edition
ISBN: 8220103960151
Author: McConnell
Publisher: YUZU
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Question
Chapter 12, Problem 1P
To determine
Profit maximizing price and output.
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Suppose that a monopolist faces linear demand given by
Q(p)=90-3"p
The monopolist also pays a marginal cost of $2 for each unit produced.
What is the price that the monopolist will set to maximize its profits?
O 16.5
O 15
O 16
O 15.5
A monopolist has variable costs of VC =
q² and no fixed costs and faces a demand
curve of P = 24 - q, where P is price and
q the quantity sold. What is the
monopolist's profit?
072
O 64
None of the other answers is correct.
O 48
O 36
The following diagram depicts the operating conditions for a profit-maximising monopolist. Calculate the deadweight loss created by this monopoly selling at the profit maximising point.
Price ($)
MC
10
Demand
MR
5
7.5
10
Quantity
(a) $4.25
(b) $6.25
(c) $8.25
(d) None of the above.
20
15
LO
20
15
Chapter 12 Solutions
EBK MICROECONOMICS
Ch. 12.4 - The MR curve lies below the demand curve in this...Ch. 12.4 - Prob. 2QQCh. 12.4 - Prob. 3QQCh. 12.4 - Prob. 4QQCh. 12 - Prob. 1DQCh. 12 - Prob. 2DQCh. 12 - Prob. 3DQCh. 12 - Prob. 4DQCh. 12 - Prob. 5DQCh. 12 - Prob. 6DQ
Ch. 12 - Prob. 7DQCh. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - 10. LAST WORD Using Big Data to set personalized...Ch. 12 - Prob. 1RQCh. 12 - Prob. 2RQCh. 12 - Prob. 3RQCh. 12 - Prob. 4RQCh. 12 - Prob. 5RQCh. 12 - Prob. 6RQCh. 12 - Prob. 7RQCh. 12 - Prob. 1PCh. 12 - Prob. 2PCh. 12 - Prob. 3PCh. 12 - Prob. 4PCh. 12 - Prob. 5P
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