Give typing answer with explanation and conclusion Demands for regulation of advertising _____ is a trend appearing in both industrialized and developing countries of medicines of alcohol of tobacco aimed at teenagers aimed at children
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- A publisher faces the following demand schedule for the next novel from one of its popular authors:Price Quantity Demanded100 090 100,00080 200,00070 300,00060 400,00050 500,00040 600,000 530 700,00020 800,00010 900,0000 1,000,000The author is paid $2 million to write the book, and the marginal cost of publishing the book is aconstant $30 per book.a. Compute total revenue, total cost, and profit at each quantity. What quantity would a profitmaximizing publisher choose? What price would it charge? b. Compute marginal revenue. (Recall that MR=∆TR/∆Q.) How does marginal revenue compare tothe price? Explain. c. Graph the marginal-revenue, marginal-cost, and demand curves. At what quantity do themarginal-revenue and marginal-cost curves cross? What does this signify? d. In your graph, shade in the deadweight loss. Explain in words what this means. e. If the author was paid $3 million instead of $2 million to write the book, how would this affectthe publisher’s decision regarding the price…What are the goals of the Federal Trade Commission?List the ways in which the FTC affects marketing activ-ities. Do you think a single regulatory agency shouldhave such broad jurisdiction over so many marketingpractices? Why or why not?The global crisis of electronic chips shook and shattered many industries while in theforefront of the headlines the COVID-19 pandemic rages through the economies ofthe world. You watched a video on this crisis and participated in a discussionin the class. Pick up an industry of your choice and discuss how this industrygot hit by this chip shortage. How much was the usual demand? Did the demandincrease during the COVID pandemic or it reduced? Did the industry cut production?Did it suffer a revenue downfall? Was there any variation of the impact withrespect to the difference in economic regions e.g. Asia, Europe, North America,The Middle East etc..? Did it find an alternate way to circumvent the crisis? Countryeconomy-wise which one is hardest hit (or the least)? Why? What type ofrecovery do they expect or foresee? How are they making sustainability plansfor such a crisis in the future? Try to answerthese questions in your write up but don’t limit them within the boundary ofthese…
- 2 A monopoly sells its goods in the United States, where the elasticity of demand is -2, and in Japan, where the elasticity of demand is -5. Its marginal cost is $10. At what price does the monopoly sell its goods in each country if resale is impossible?e ap sep 0 ja ajaloo Purwas ap o Consider a town in which only two residents, Clancy and Eileen, own wells that produce water safe for drinking. Clancy and Eileen can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water. Tab Caps Lock Price (Dollars per gallon) 6.00 5.50 5.00 4.50 Esc is 81°F Sunny 4.00 3.50 3.00 2.50 2.00 1.50 1.00 ! 0.50 0 7 Q A Quantity Demanded (Gallons of water) 0 45 17 F2 8- @ Suppose Clancy and Eileen form a cartel and behave as a monopolist. The profit-maximizing price is $ gallons. As part of their cartel agreement, Clancy and Eileen agree to split production equally. Therefore, Clancy's profit is - C VE 2 W 90 135 S. 180 225 270 315 360 405 450 495 540 F3 0+ #M 3 Total Revenue (Dollars) 0 $247.50 $450.00 $607.50 $720.00 $787.50 $810.00 $787.50 $720.00 $607.50 E F4 BO $450.00 $247.50 0 D $ 4 F5 R F % 5 F6 D T F7 ^ 6 G 4- Y FB J+ & 7 per gallon, and the total…An unregulated natural monopoly bottles Elixir, a unique product with no substitutes. The monopoly's Ktotal flaxed cost is $150,000 and its marginal cost is 20 cents a bottle. How many bottles of Elixir does the monopoly sell and what is the price of a bottle of Elixir? is the monopoly's use of resources efficient? CELL The graph shows the demand curve for Ex Draw the marginal revenue curve. Label it MR Draw the marginal cost curve. Label it MC. Draw a point at the monopoly's profit-maximizing quantity and price Elixir sells million bottles a year and the price is cents a bottle >>>Answer to 2 decimal places The firm produce the efficient quantity because OA does not marginal benefit equals marginal cost OB. does not marginal benefit exceeds marginal cost OC does; marginal revenue equals marginal cost OD does, marginal benefit equals marginal cost 604 00- 40 30+ 20 304 Price and cost (cents per bottle) D Quantity (millions of bottes per year) > Draw only the objects specified in the…
- Why are generic pharmaceuticals significantly cheaper than name brand ones?SA 23 20 15 13 7 1200 1800 What is the monopolist's profit maximizing quantity? MR The graph shows the demand, marginal revenue, marginal cost and average total cost curves when there is a monopoly in the internet industry. Answer the following questions by entering only numbers found on the above graph. What price will the monopolist charge when it's producing its profit maximizing quantity? MC ATC How much profit does the monopolist earn when it's maximizing its profit? If the government were to regulate the monopolist by forcing the monopolist to set its P = MC, would the monopolist operate? (Enter either YES or NO)Monopoly HW B MC 16 14 - 12 - 10 ATC AUC 8 = 6 c 4 2 10 20 30 40 S0 60 70 80 90 100 1о 120 ldentify CDuant or answer the following P .TDtas Reanue? TR Tota cost Total тC ariable ost TVC - TOta fixe cost? TFC tiis Profit or Loss and the $ Amount ? LS Shutdown? Can this be the Long Run?
- From the graph you drew to answer Exercise 11.6, would you say this transit system is a natural monopoly? Justify. Use the following information to answer the next three questions. In the years before wireless phones, when telephone technology requited having a wile matting to every home, it seemed plausible that telephone service had diminishing average costs and might require regulation like a natural monopoly. For most of the twentieth century, the national U.S. phone company was AT&T, and the company functioned as a regulated monopoly. Think about the deregulation of the U.S. telecommunications industry that has occurred over the last few decades. (This is not a research assignment, but a thought assignment based on what you have learned in this chapter.)A firm with market power sells its product in rre markets. The price in Market lis three times the price in Market 2 Assuming the firm faces the same constant mbrginal cost in each market and the price elasticity of demand in Market 1 is -1.2, the demand in Market 2 has an elasticity of -2. has an elasticity of -3.6. has an elasticity of-0.4. is less elastic than the demand in Market 1=b10| || || phphattempt 631066&cmid=55726&page-31 $25 4 aaa $5 S Select one Ob $50 O $500 04 $1,000 888 The diagram above shows the demand and cost curves for a market that could either be a monopoly or perfectly competitive in Long Fun Equilibrium the market a onopoly Deadweight Loss DWL) would be R F % 5 V T 200 300 400 500 600 Output 10) G M 6 B MacBook Air PR LAATC LMC Y Demand P H &7 U N 8 61 M W DI K GTE " O 1 Next 0 V L
