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- The Spacing Guild has a monopoly on space transport. They sell tickets(Q) for seats on starships for interstellar travel at a per-ticket price of P. Alltickets cost the same.The Marginal Cost for each seat is $20 and there are no other costs.Market demand is Q=430-3P. What is the difference between the Guild's QUANTITY and the quantitythat would result if interstellar travel was a perfectly competitive market?In British Columbia, Canada a company named after Tim Hortons runs a monopoly on a sweet snack called Timbits! Suppose the demand for Timbits is P=90-Q and the cost function is C-Q How much would the consumer surplus, producer surplus and DWL be in case Tim Hortons a single-price monopoly? Suppose Tim Hortons could install a device in its premises that could immediately 11) predict the willingness to pay of every unsuspecting customer entering its franchise premises and charge them that corresponding amount! Additionally, suppose they could also stop resale of products, and thus become a first degree price discriminatıng monopoly. How much would the consumer surplus, producer surplus and DWL be in this case?Lynch Enterprises has a monopoly in the production of dehumidifiers. Its factory is located in Spanish Town. There is no other industry in Spanish Town, and the labor supply equation there is W=10+0.1L, where W is the daily wage and L is the number of person-days of work performed. Dehumidifiers are produced with a production function, Q=10L, where L is daily labor supply and Q is daily output. The demand curve for dehumidifiers is P=41−Q/1,000, where P is the price and Q is the number of sales per day. What is the price of dehumidifiers? Select one: a. 31 b. 11 c. 10 d. 100
- Under pure monopoly market (PMM), MR=MC but not equal to Price. Why is this so? And what is the welfare effect of this? Please explain the negative effect to the consumers when MR is NOT EQUAL to Price?Barbara is a producer in a monopoly industry. Her demand curve and total cost curve are given by Q = 160 - 4P and TC = 4Q. Barbara will produce ✓ units. Barbara will charge a price of Barbara will make a profit of Suppose now the government imposes a tax of 4 dollars on each unit sold. With the tax: Barbara will produce ✓ units. Barbara will receive a price per unit of higher). Barbara will make a profit of In addition to the tax, suppose the government imposes a business levy (a fixed cost) of $500. With this levy: Barbara will produce Barbara will charge a price of Barbara will make a profit of ✓. Note: we're looking for the Barbara receives, not the price consumers pay (which will be ✓ units. ✓. Note: we're looking for the Barbara receives, not the price consumers pay (which will be higher).There is only one jet ski rental company at a lake. This company has a monopoly. A typical customer has the demans function Q=550- 30P. The marginal cost is $12 per hour. Suppose the monopoly uses a single hourly price. Calculate the profit maximizing price and quantity, the monopoly's profit, and the deadweight loss.
- In a monopoly, the average cost and the marginal cost are fixed and equal. According to this; Draw the cost, demand, and marginal revenue curves for the monopoly. Indicate the price the monopoly would charge in the absence of discrimination. On your graph, indicate the area corresponding to the monopoly profit, which will be called X. Indicate the consumer surplus (Y) and the deadweight loss. Suppose now that the monopoly practices perfect discrimination. What then is the profit of the monopoly (give your answer in terms of X, Y and Z)How does price discrimination affect monopoly profit? What is the effect on the total surplus? Which is the more important of the two effects? Explain in terms of X, Y and Z.Side 1 A report shows that the catch of a fish stock can be increased. The fishing authority wishes to subsidise the effort, so that the fisher's effort is 3.5. The fishers marginal revenue (MR) function is: MR = 1700 -300*X Where X is the fishing effort The fisher's marginal cost (MC) function is: TC = 500 + 200*X Where X is the fishing effort. How much should the subsidy per effort be, so that the fisher's effort is 3.5? Vælg én svarmulighed O 550 O 700 O 600 O 650The Spacing Guild has a monopoly on space transport. They sell tickets(Q) for seats on starships for interstellar travel at a per-ticket price of P. Alltickets cost the same. The Marginal Cost for each seat is $21 and there is a fixed cost of $6,143.Market demand is Q=416-3P. If the government imposes a price ceiling of $31, what is the Guild'schoice of QUANTITY in the LONG-run?
- A monopolist produces commodity Z. Suppose that an ad valorem tax is levied on Z. What are the effects of the tax on the quantity demanded, the price paid by consumers, the price paid by the monopolist, and monopoly profits? Who bears the tax burden? State your assumptions and use a graph to illustrate your conclusions.Suppose a monopoly firm has the following Cost and Demand functions: TC=Q2 P=80-Q MC=2Q MR=80-2Q Carefully explain what the firm is doing and why. Find the firm’s Profit maximizing Q Find the firm’s Profit maximizing P. Find the firm’s Profit. Suppose because of an advertising campaign, which costs $500, the monopoly’s demand curve is: P=100-Q so its MR= 100-2Q. MC=2Q Looking closely at the TC function and the demand curve, explain the effects of the advertising campaign on the equations compared with the equations above in part 1. Find the firm’s Profit maximizing Q Find the firm’s Profit maximizing P. Find the firm’s Profit. Was the advertising campaign successful? Compare 2 w/ 1. Why?Will the monopolist produce an output level that is technically efficient?