If a monopolist wants to increase the quantity sold from 6 units to 7 units, it cuts the price from $15 to $13. The marginal revenue = $. (Enter your response as a whole number.)
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- Currently a monopolist's profit maximizing output is 400 units per week and it sells output at price of $60 per unit. The total cost of the form are $10,000 per week. The firm is maximizing it's profit and it earns $40 in extra revenue from the sale of the last unit. Calculate the profit.The 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 $Price Quantity Total Cost 2,000 1 1,600 1,800 2 1,800 1,600 3 2,000 What would be the profit for the monopolist if he choose to produce 2 units of the good?
- Suppose a profit-maximizing monopolist is producing 800 units of output and is charging a price of $45.00 per unit. If the elasticity of demand for the product is - 2.50, find the marginal cost of the last unit produced. The marginal cost of the last unit produce is $. (Enter your response rounded to two decimal places.) What is the firm's percentage markup of price over marginal cost? The firm's percentage markup of price over marginal cost is percent. (Enter your response rounded to two decimal places.) Suppose that the average cost of the last unit produced is $12.00 and the firm's fixed cost is $2000. Find the firm's profit. The firm's profit is $ (Enter your response rounded to two decimal places.)If the monopolist shown in the following figure could practice first-degree price discrimination, the producer surplus would be: Price (dollars) 50 40 30 20 10 0 $450.00 $1,200.00 $0.00 $900.00 $225.00 30 50 60 MR 100 MC QuantityThe following table shows demand and marginal cost for a monopolist. Calculate marginal revenue (MR) at each quantity. (Enter your response as an integer.) Marginal Revenue (MR) Marginal Cost (MC) Price per Unit Output (units) (Q) (P) 10 -- 1 9. 1 2 8 2 7 3 4 6 4 5 5 5
- The 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:A monopolist is producing at a quantity of 13,678 units where the marginal revenue of the last unit was $2,386 and the marginal cost of the last unit was $2,875. To increase profit the monopolist should... options: raise the price and decrease the quantity produced lower the price and increase the quantity produced raise the price and increase the quantity produced lower the price and decrease the quantity producedAll 20 consumers are alike and each has a demand curve for a monopolist's product of p=15 -3q. The cost of production C(Q) =2Q. Let the monopolist charge a price of $PM for qM unit purchased. Find the menu prices that maximize profits? (The buyer pays menu price PM for quantity qM) What is PM?
- Hi! 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 ParkinsonA 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 £50 for it, Bob up to £70, Chloe up to £90, Dave up to £110 and Elizabeth up to £130. The monopolist's variable cost function is given in below table. Quantity 1 Marginal Costs 50 Price 2 55 Marg. Revenue c) Find the monopolist's profit maximising quantity. 3 60 4 65 5 70If a monopolist could sell 7 units of output for $41 each or 8 units of output for $39 each, what is the marginal revenue of the 8th unit of output?