The table below shows the marginal revenue and costs for a monopolist.Demand, Costs, and RevenuesPrice (dollars) Quantity Demanded$85797367615550150250350450550Marginal Revenue (dollars)$8576641. 250; -$3,6252. 250; $3,6253. 350; -$3,6254. 350; $4625524028Marginal Cost (dollars)$258564616777Average Total Cost (dol$139.00103.3087.5080.0077.0077.00The monopolist's profit-maximizing level of output is...................its and the monopolist's profit at theprofit maximizing output is....

The monopoly refers to a market where only one firm exists. A firm is a price maker, and it can earn…

The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price (dollars) $85 79 73 67 61 55 Quantity Demanded 50 150 250 350 450 550 Marginal Revenue (dollars) $85 76 64 52 40 28 Marginal Cost (dollars) $25 85 64 61 67 77 Average T- $139.00 103.30 87.50 80.00 77.00 77.00 The monopolist's profit-maximizing level of output is................units and the monopolist's profit at the profit maximizing output is...................?

The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price (dollars) $85 79 73 67 61 55 Quantity Demanded 50 150 250 350 450 550 Marginal Revenue (dollars) $85 76 64 52 40 28 Marginal Cost (dollars) $25 85 64 61 67 77 Average T- $139.00 103.30 87.50 80.00 77.00 77.00 The monopolist's profit-maximizing level of output is................units and the monopolist's profit at the profit maximizing output is...................?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Figure 94 Monopolist (dollars) 10 8 6 0 Quantity MC Refer to Figure 94. Suppose that the profit-maximizing/loss minimizing level of output is 40 units per day and the average fixed cost and average variable cost of producing this amount is $4 $7, respectively. (a) What is the total cost of producing 40 units per day? Show your work. (b) What is the total profit earned/loss incurred by producing 40 units per day? Show your work. (c) What price will the firm charge to maximize profit or minimize loss? (d) Should the firm shut down or continue to produce in the short run? Explain.
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(Figure: Electricity Generation). What is this monopolist's maximum profit? Group of answer choices $300 $400 $1000 $810
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Johnny Rockabilly has just finished recording his latest CD. The company can produce the CD with no fixed cost and a variable cost of $18 per CD. His record company's marketing department determines that the demand for the CD is as follows: Complete the following table by computing total revenue for each quantity listed and marginal revenue for each 5,000 increase in the quantity sold. Price Total Revenue Marginal Revenue (Dollars) Number of CDs (Dollars) (Dollars) 30 10,000 28 15,000 26 20,000 24 25,000 22 30,000 20 35,000 CDs and a price of . This results in a profit of $ Profit is maximized at a quantity of from the record company. If you were Johnny's agent, you would advise Johnny to demand a recording fee of > a || Desktop 69°F 1O ip
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(1) what is an example of price discrimination that you have experienced ? is this price diesccrimination beneficial to consumers ? why yes or why no?
3. Consider a monopolist who faces the following demand: Demand: P= 100 – 10Q MC= 50+20 a) Find the price quantity combination that maximizes profit for the monopolist. b) Is the firm making positive, negative or zero profits? (100,100) Kareem chooses (60, 105) (500, 400) Saleem chooses Kareem chooses (50,420) 4. Calculate the SPNE/SPNES for the game stated above.
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