8 The table below shows the demand curve facing a monopolist who produces at a constant marginal cost of £6. Calculate the monopolist's marginal revenue curve. What is the equilibrium output? What is the equilibrium price? Price (S) Quantity 8 1 7 2 6 3 5 4 4 5 3 6 2 7 1 8
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- A monopolist practices perfect price discrimination. The monopoly faces a market demand curve and has a total cost of production given below: P=50-Q and TC = 20Q %3D What do economic profits equal for this perfect price discriminating monopolist? * 600 1050 450Help me pleaseThe table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the table. Assume that output can only be sold in integer amounts (i.e., 11 unit, 22 units, etc.). Once you have filled in marginal revenue, identify the quantity produced by the monopolist in this market. Quantity Price Marginal Marginal Cost Revenue 1 $13 $3 MR1 2 $12 $4 MR2 3 $11 $5 MR3 4 $10 $6 MR4 $9 $7 MR5 6. $8 $8 MR6 How many units does the monopolist produce? Quantity:
- Use the following graph of a monopoly market to answer this question: P $13 $10 150 300 Which of the following statements is an accurate interpretation of the graph? This firm engages in perfect price discrimination; 150 of its customers are willing to pay exactly $13, and 150 are willing to pay exactly $10. This firm price-discriminates by selling its product for $13 to the 150 consumers willing to pay at least $13, and selling it for $10 to the 150 consumers willing to pay between $10 and $13. This firm engages in price discrimination by negotiating on price with each of its customers. This firm price-discriminates by selling its product for $13 to the 150 consumers willing to pay at least $13, and selling it for $10 to the 300 consumers willing to pay between $10 and $13. This firm engages in perfect price discrimination; 150 of its customers are willing to pay exactly $13, and 300 are willing to pay exactly $10.Price 30 MC 23 20 15 ATC D 9 12 15 \MR Quantity d) If a price ceiling of $17.50 is imposed by the government on the monopolist, estimate the quantity that the monopolist will produce based on the graph. What happens to the deadweight loss and why? (Note: no need to compute for the DWL.)The graph below presents the curves associated with the firm JT Minn.. JT Minn. is a monopolist that produces dishwashers. Move the point on the demand curve to represent the price JT Minn. would charge and the quantity at which they would produce. Price/ Cost (570,$20) (980,$33) Marginal I Revenue I Marginal Cost Demand Quantity
- Refer to Figure. What is the monopoly price and quantity? 18034The following table shows demand and marginal cost for a monopolist. Calculate marginal revenue (MR) at each quantity. (Enter your response as an integer.) Output (units) (Q) Price per Unit (P) 20 Marginal Revenue (MR) Marginal Cost (MC) -- -- 1 18 18 2 2 16 14 3 14 10 6 12 6 8 10 2 10 A profit-maximizing monopolist will produce units and set a price of $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.
- Question 5: Jimmy has a room that overlooks, from some distance, a major league baseball stadium. He decides to rent a telescope for $50 a week and charge his friends and classmates to use it to peep at the game for 30 seconds. He can act as a monopolist for renting out "peeps". For each person who takes a 30 second peep, it costs Jimmy $.20 to clean the eyepiece. Jimmy believes he has the following demand for his service: Price of a Peep $1.20 Quantity of peeps demanded 1.00 90 100 150 200 250 300 70 60 50 350 40 30 400 450 20 10 500 550 a) For each price, calculate the total revenue from selling peeps and themarginal revenue per peep. Price Quantity TR MR $1.20 100 90 100 150 200 70 250 60 300 350 50 40 30 400 450 20 500 10 550 b) At what quantity will Jimmy's profit be maximized? What price will he charge? What will his total profit be? c) Jimmy's landlady complains about all the visitors coming into the building and tells Jimmy to stop selling peeps. Jimmy discovers, though, if he…The below graph represents a monopoly market, a quantity where Elasticity >1 is (enter whole numbers) $ 10 9 3 17 6 3 4 1 0 Elasticity > 1 Market (Draw your graph in here) Elasticity 1 Elasticity 1 Quantity 1028 $55 $50 $45 MC АТС I of $40 $35 $30 $25 $20 Demand = P $15 $10 $5 $0 MR 40 80 120 160 200 240 Output (Q) The diagram above shows the Demand, MR, and cost curves for a monopolist in the short-run. At the profit maximizing Output (Q) level, the monopolist will earn a Total Profit of: Sel one: а. $1,200 b. $2,200 c. $800 d. $2,000 $$