depends on the elasticity of supply and not on the marginal cost cannot be separated from the demand curve it faces depends on the average cost None of these
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- Imagine that you ale managing a small firm and thinking about entering the market of a monopolist. The monopolist is currently charging a high price, and you have calculated that you can make a nice profit charging 10 less than the monopolist. Before you go ahead and challenge the monopolist, what possibility should you consider for how the monopolist might react?Draw a monopolists demand curve, marginal revenue, and marginal cost curves. Identify the monopolists profit-maximizing output level. Now, think about a slightly higher level of output (sayQ0+1). According to the graph, is there any consumer willing to pay more than the marginal cost of that new level of output? If so, what does this mean?Suppose a monopolist faces a market demand curve given by P =50 -Q. Marginal cost is initially equal tozero and constant.a. Calculate the profit maximizing price and quantity. Use the Lerner index to calculate the price elasticity ofdemand at this point. What is the amount of deadweight loss associated with this monopoly?
- A monopolist serves a market with five potential buyers, each of whom would buy at most one piece of the monopolist’s good. Anna would be willing to pay up to £80 for it, Bob up to £90, Chloe up to £100, Dave up to £110 and Elizabeth up to £120. The monopolist’s variable cost function is given in below table: Quantity 1 2 3 4 5 Variable Costs 40 90 150 220 300 Price Marg. Revenue a) Indicate in the table which price the monopolist would want to charge for each given quantity. [10% of points] b) Find the marginal revenue for each quantity. [10% of points] c) Find the monopolist’s profit maximising price under the assumption that he wants to produce anything at all. [10% of points] d) How large can the monopolist’s fixed costs be such that he still wants to start producing at all? [10% of points] I beg my bros, can you answer this for me, its been a rough day and im just a poor student id very much appricate thisA monopolist serves a market with five potential buyers, each of whom would buy at most one piece of the monopolist’s good. Anna would be willing to pay up to £80 for it, Bob up to £90, Chloe up to £100, Dave up to £110 and Elizabeth up to £120. The monopolist’s variable cost function is given in below table. Quantity 1 2 3 4 5 Variable Costs 40 90 150 220 300 Price Marg. Revenue a) Indicate in the table which price the monopolist would want to charge for each given quantity. b) Find the marginal revenue for each quantity.c) Find the monopolist’s profit maximising price under the assumption that he wants to produce anything at all. d) How large can the monopolist’s fixed costs be such that he still wants to start producing at all?A. If the Demand for a monopolist's good shifts out, what happens to the equilibrium price and quantity in this market? How does this compare with the price and quantity in a competitive market when the Demand shifts out? B. What happens to the equilibrium price and quantity for the good sup- plied by a monopoly when the marginal cost of the monopolist shifts uniformly down? How does this compare with what happens under competition when the marginal costs of competitors shift down?
- A monopolist and a perfectly competitive firm both * O face a downward-sloping demand curve O have their marginal revenue curve below their demand curve. can earn profit in the long run O have a horizontal marginal revenue curve maximize profit by producing the quantity at which marginal revenue equals marginal costAnswer the question by referring to the table below. The table shows the demand curve facing a monopolistwho produces at constant marginal cost of 6. In short-run equilibrium, the monopolist will produceQuantity Price10 1020 930 840 750 660 5a) 20 unitsb) 30 unitsc) 40 unitsd) 50 unitsSuppose a monopolist has to purchase new equipment and his fixed costs increase. Explain whatwill happen to the monopolist’s profit- maximizingoutput quantity and the monopolist’s profits
- The following table refers to information about a monopolist. The demand and total cost schedules for the monopolist are presented. Quantity 1 2 34 5 6 7 ܒܢ Calculate the marginal revenue from selling the 4th unit of output. Express your answer without units (e.g., if your answer is "$400", write "400" in the answer box). Type your answer... W 3 LU E a $ 4 R ddelddeelala www 000 6 Sº % Price $30 $28 $26 $24 $22 $20 $18 5 T 6 MacBook Pro Y & 7 A U * 00 8 1 Total cost $10 $20 $30 $40 $50 $60 $70 W 9 P O O T aHi! I got stuck with my microeconomics homework. Can you please help? Here's the problem: A monopolist knows that in order to expand the quantity of output it produces from 8 to 9 units it must lower the price of its output from $2 to $1. Calculate the quantity effect and the price effect. Use these results to calculate the monopolist’s marginal revenue of producing the 9th unit. The marginal cost of producing the 9th unit is positive. Is it a good idea for the monopolist to produce the 9th unit? It is from Microeconomics: Canadian Edition by Paul Krugman; Robin Wells; Iris Au; Jack ParkinsonWhy is there no supply curve fro a monopolist?
