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- Question: Compare and contrast perfect competition and monopoly market structures. What are the key differences?Please Dont use AI tool.Exercise A.12. Explain the differences between the supply and demand curves of a firm in perfect competition and a monopoly."I'm About to Lose You" The wireless industry ranks among the bottom five businesses in the American Customer Satisfaction Index. Critics say that the wireless industry has become a cozy cartel of a few dominant providers. They point to several unfair practices: high termination fees; costly to switch providers; handsets that only work with a single carrier; and limited access to Web sites. Now Washington is listening. Source: Newsweek, August 6, 2007 If it were costless to switch providers, explain what changes would occur in the wireless market. Would there be a role for Washington? If it were costless to switch providers, O A. more providers would enter the industry and the price would fall. The fall in price would decrease demand for smartphones. Washington would not need to interfere O B. providers would be even more diligent at maintaining the same high price, and Washington would be forced to police the industry to ensure that antitrust laws are not broken O C. consumers would…
- Graph and discuss a comparison of the short-run and long-run profits, price, quantity, MR and MC of a Monopoly and a PC firm. Which type of firm is more efficient and why?Monopoly in simple wordsQuestion Maxin Suppose a monopolist could charge a different price to every customer based on how much he or she were willing and able to pay (versus charging the same price to all their customers). How would this affect the monopolist's profits? Why? Description Answer eacho Use the editor to format your answer 10 Roints
- Describe the types of inefficiencies that derive from monopolistic competition. Use examples< The accompanying table shows the total daily output for a firm producing specialty cakes and operating with a fixed amount of capital. The cost of labour is $100 per unit per day and the fixed cost of the capital is $2000 per day. Click the icon to view the table. a. Using the information provided, compute all of the short-run costs for this firm and complete the table. Remember to record the marginal costs between the rows indicating total cost. Complete the third, fourth, and fifth columns of the table. Units of Labour Total Output (per day) (per day) 100 20 40 60 80 100 120 140 40 60 300 80 800 1370 1570 1630 1670 300 800 TFC $2000 1370 $ 2000 $ 2000 TVC $2000 Complete the last four columns of the table. Units of Labour (per day) Total Output (per day) 20 100 $ 4000 $ 6000 $ 2000 $ 8000 $2000 $10000 TFC TC $ 4000 $6000 TVC $ 8000 2000 $12000 $14000 $10000 $2000 $14000 $16000 $12000 TC MC MC $10 4 $3.50 $10 4 AFC AFC $20 $2.5 AVC $6.67 $ 13.33 $ 1.46 AVC $20 $7.5 $5.84 ATC ATC $40…A. Spectrum has the cable monopoly on the Glens Falls area. The following table gives the demand and costs per month for basic cable: Price Customers Total Marginal Total Cost Marginal Cost АТС (000) Revenue Revenue (S000) ($000) ($000) ($000) ($000) $200 10 $1800 190 20 3200 180 30 4300 170 40 5350 160 50 6450 150 60 7750 140 70 9350 1. If Spectrum wishes to maximize profit, what price should it charge and how many subscriptions will it sell? _subscriptions at $ 2. How much profit will it make? $ . Explain.
- GRAPH Show Deadweight Loss off Show Economic Profit/Loss ($) Price, Average/Marginal Cost Regular Monopoly Natural Monopoly Off SETTINGS 225 200 175 MC 150 125 100 75 50 25 ATC AVC MR D 0 20 40 60 80 100 120 140 160 180 Quantity (units per month) Reset PROFIT CALCULATIONS Cost Structure Low Cost abcdefghijklmno Quantity 40 Quantity 60 Market Price (Pmkt) $125.00 High Cost Marginal Revenue (MR) $50.00 Marginal Cost (MC) $55.00 Revenue $7,500.00 120 Costs $5,066.67 Profit $2,433.33 nstructions: Make sure the interactive is set to "Regular Monopoly" on the upper right side of the Graph section. When "Regular Monopoly" is selected, it will have a dark blue background. a. Describe how the cost curves change when you move the "cost structure" slider from low to high. All of the cost curves shift up. b. Describe the two points on the graph that move as you adjust the Quantity slider. The point where MC intersects MR. The point on the D curve for the chosen quantity. The point where MC…explain Monopoly market with table and graph4.00 3.50 Monopoly Outcome 3.00 2.50 Profit АТС 2.00 Loss 1.50 1.00 MC 0.50 D MR 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 QUANTITY (Thousands of cans of beer) PRICE (Dollars per can)
