Match the characteristics below with the appropriate models of firm behavior. Many firms, differentiated product, free entry One firm, patents, licenses, or barriers to entry Many firms, homogeneous product, free entry Few firms, strategic behavior ▬
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- Table 17-9Only two firms, Acme and Pinnacle, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost. Price Quantity Total Revenues 70 0 0 65 100 6500 60 200 12000 55 300 16500 50 400 20000 45 500 22500 40 600 24000 35 700 24500 30 800 24000 25 900 22500 20 1000 20000 15 1100 16500 10 1200 12000 5 1300 6500 0 1400 0 Refer to Table 17-9. How much less do each of these firms earn in the Nash equilibrium than if they jointly maximize profits? Group of answer choices $250 $500 $750 $1000Table 17-9Only two firms, Acme and Pinnacle, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost. Price Quantity Total Revenues 70 0 0 65 100 6500 60 200 12000 55 300 16500 50 400 20000 45 500 22500 40 600 24000 35 700 24500 30 800 24000 25 900 22500 20 1000 20000 15 1100 16500 10 1200 12000 5 1300 6500 0 1400 0 Refer to Table 17-9. If Acme and Pinnacle operate to jointly maximize profits and agree to share the profit equally, then how much profit will each of them earn? Group of answer choices $9,000 $8,750 $8,000 $6,750The graphs below shows a firm operating in monopolistic competiton market structure. 105 100 MC 95 90 + ATC 85 80 75 70 65 60 55+ 50 + 45 + 40 + 35 + 30 + 25 + 20 15 + 10+ MR +++++++++YT+++) Demand 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100105110115120 Q i. Determine the profit maximizing price and quantity at equilibrium. ii. Calculate the Total Revenue, Total Cost and profit. iii. Firms in this market structure usually practise product differentiation. Why?
- Please explain in your own words the following concepts of Monopolistic competetion model: 1. number of firms 2. Long Run equilibrium 3. closing/opening to trade 4. average costs and price Also please help me understand whe you would use this model vs any other ones.Suppose that a particular industry has a four-firm concentration ratio of 45 and a Herfindahi index of LS40. Most ikety, this industry would ochieve Mutipie Chaice both productive efficiency and allocative etficency wllocative efficency but not productive effcency nether productive efficiency nor allocative efficiency productive efficiency but not allocative efficiencywdown.org/v3/student/the economics of flying how competitive are the friendly-skies THE ECONOMICS OF FLYING: HOW COMPETITIVE ARE THE FRIENDLY SKIES? QUESTIONS Before deregulation, airlines relied on whereas airlines relied more on O antitrust laws; market power O antitrust laws; non-price competition O non-price competition; price competition O price competition; non-price competition strategies to attract customers, after deregulation. t
- ne Semester 2023 dules nouncements NWP Assessment Play X signments scussions yllabus Grades Zoom People Turnitin https://calstatela.instructure.com/courses/85933/quizzes/382812/take Oligopoly Oaksville has two tennis instructors, Sam and Jack. The figure shows the demand curve and marginal revenue for tennis lesson appointments and the average total cost. Price and cost (dollars per appointment) Microsoft Office 365 Google Apps Type here to search X F1 @ 2 21 A- F2 A+ F3 Quiz: Homework 7 #3 X F4 BI $ 4 70 60 50 40 30 23 10 ☀ - F5 0 X % 5 2 Alt Text: pink glitter ro X Alt Text: appointments Competitive Outcome, (Pcomp, Qcomp) ☀+ F6 6 MR 8 F7 6 4 10 Quantity (appointments per hour) L yu F8 8 & 7 O MC D ATC F9 Negative Manuscript X * 00 8 F10 ( 9 n F11 ) 0 Oracle Peopl 59°F Mostly clouc ☆ A to F12 HomQ21 Answer the question on the basis of the provided demand and cost data for Aphria, a monopolist producing marijuana. Demand Data for Marijuana Cost Data for Marijuana Price Quantity Demanded Output Total Cost $6.25 3 3 $5.00 6.00 4 4 6.00 5.75 5 5 6.50 5.25 6 6 7.50 4.50 7 7 9.00 4.00 8 8 11.00 3.50 9 9 14.00 The profit-maximizing level of output for Aphria will be Multiple Choice 4 units. 7 units. 5 units. $10. 6 units.Only two firms, Acme and Stuff Inc., sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost (so MC-ATC=$10). Price Quantity Total Revenues 10 70 65 60 55 50 45 40 28889 35 30 25 20 15 10 15 0 100 200 300 400 500 600 700 800 900 1000 1100 1200 1300 1400 0 If Acme and Stuff Inc are able to collude, how much will Acme produce? 6500 12000 16500 20000 22500 24000 24500 24000 22500 20000 16500 12000 6500 0
- The graph below represents sales per week of ABC Inc. Ltd, a monopoly multinational enterprise that supplies Hi-tech components. Use the graph to answer the questions that follow. "image" i. State the elasticity of the monopoly firm demand curve. ii. Considering the figure, examine the benefits of the characteristics of themonopoly demand curve to ABC Inc. Ltd. iii. Suppose the demand and cost curves result in ABC Inc. Ltd earning aneconomic profit. Do you think ABC Inc. Ltd firm will earn profit in the longrun? Explain your answer. Assume all factors constant. iv. Examine the effects of ABC Inc. Ltd on consumers.Define what is meant by economic regulation. Why istransportation economic deregulation important?(a) Fill in the blanks with the following words. barriers to entry, long run, monopoly, perfect competition, short run, supernormal profits Under new firms are attracted into the industry and the abnormal profits are competed away as the market supply curve shifts to the right and the market price falls. However, which are the very source of monopoly can only exist in the as in the under new firms are unable to enter the market as there are various power. Thus a single firm may remain the only supplier, and supernormal profits may persist in both the short and long run; in monopoly, there is therefore no distinction between short and long run equilibrium.
