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- $30 MC ATC $20 $10 MR Demand 10 20 30 40 Quantity (in Thousands per Month) What is the maximum profit per month that the monopolist will be able to earn according to the graph? zero approximately $20,000 approximately $50,000 Oapproximately $100,000 PriceConsider a monopolist who charges a single price to all of its customers. If this monopolist starts price discriminating, its output will and its profit will Orise; fall O fall; fall Ofall; rise Orise; riseIf a monopolist attempts to raise its price by a small amount, the quantity that its customers will buy will O increase O remain the same O decrease O None of these choices.
- 10. Suppose that a monopolist faces a linear demand curve having a vertical intercept of (Q.a) and a horizontal intercept of (b,0). Denote the midpoint on the segment ab by the letter m (i.e., the line segment am is equal in length to the line segment bm). Denote the coordinates at point m by (Q*, P*). Now suppose that you overheard a student in ECON 2450 reason in the following manner: A profit-maximizing monopoly firm that sells all units that it produces at a uniform price. The firm would never produce more than Q* (or alternatively, will never charge a price below P*) since doing so reduce its total revenue as well as increasing its total cost. Even if the cost of production were negligibly small or even zero, the monopolist's profits would fall if it produced more than Q*." Is this argument correct? If so explain why. If not, explain why not.Assume a monopolistic publisher agreed to pay an author 10% of the total revenue from the sale ofthe text. Will the author and the publisher want to charge the same price for the text? Explain inthe light of price discrimination?The graph below represents sales per week of ABC Inc. Ltd, a monopoly multinationalenterprise that supplies Hi-tech components. Use the graph to answer the questionsthat follow 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 long run? Explain your answer. Assume all factors constant. iv. Examine the effects of ABC Inc. Ltd on consumers.
- The graph below represents sales per week of ABC Inc. Ltd, a monopoly multinationalenterprise that supplies Hi-tech components. Use the graph to answer the questionsthat follow 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.The diagram shows the equilibrium of a profit-maximising monopolist. Cost/revenue (£) Which area represents the supernormal profits made by the monopolist? OABQ MC ABDH AC ABFG B JCFG Al АВСЈ G AR MR Quantity (Q) O o o O OHow does a monopolist decide its production amount and pricingstrategy? Explain.
- 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 thisO OO The above graph shows the market demand function for a product. Assume that the market is served by a perfectly-price-discriminating monopolist with a constant marginal cost of production equal to $4 (MC = $4) and no fixed cost (FC = 0). The deadweight loss equals: DWL - $72 DWL - $0 DWL- -$48 DWL - $84 DWL-$36 $30 $28 $26 $24 $22 $20 Question 23 $18 $16 $14 $12 $10 $8 $6 $4 $2 $0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15Suppose that a monopolistic seller of designer handbags faces the following inverse demand curve: P 100-q. The seller can produce handbags for a constant marginal and average total cost of $20. Calculate the profit-maximizing price for this seller Page ) Suppose the government levies a $6 tax per unit on sellers of handbags. Calculate how this tax will affect the price the monopolist charges its b. customers. Who bears the burden of this tax?
