Review the graph at right. Monopoly What is the unregulated monopoly price? $ (enter your response as a whole number) 100- 90 MC What is the unregulated monopoly output? (enter your response as a whole 80- number) 70- P=$60 60 The total unregulated welfare (CS + PS) is $ (round your answer to the nearest penny) 50- 40- What is the optimal monopoly regulated price? $] (enter your response as a MC $30 30- whole number) 20- The total regulated welfare (CS + PS) is $. (round your answer to the nearest penny) 10- D 04 10 20 30 40 50 60 70 80 90 100 Quantity Price

Review the graph at right. Monopoly What is the unregulated monopoly price? $ (enter your response as a whole number) 100- 90 MC What is the unregulated monopoly output? (enter your response as a whole 80- number) 70- P=$60 60 The total unregulated welfare (CS + PS) is $ (round your answer to the nearest penny) 50- 40- What is the optimal monopoly regulated price? $] (enter your response as a MC $30 30- whole number) 20- The total regulated welfare (CS + PS) is $. (round your answer to the nearest penny) 10- D 04 10 20 30 40 50 60 70 80 90 100 Quantity Price

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Monopoly

Section15.3: The Welfare Cost Of Monopolies

Problem 3QQ

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Review the graph at right. Monopoly 100- What is the unregulated monopoly price? $ (enter your response as a whole MC number) 90- 80- What area represents the consumer surplus for an unregulated monopolist? 70- P= $60 60 What area represents the producer surplus for an unregulated monopolist? 50- B 40- D MC = $30 30 * What area represents the deadweight loss? 20- The welfare for the unregulated monopoly is the welfare when 10- optimal monopoly regulation is used. Q = 30MR 10 20 30 40 50 60 70 80 90 100 Quantity tv 20 MacBook Air DII 80 F6 FB F10 F2 F4 @ 23 & 2 3 4 5 7 9 W E R Y P S D F G H K > C V M mand command optie と ...- * 00 B
Review the graph at right. Monopoly What is the unregulated monopoly price? $ (enter your response as a whole 100- number) 90- MC What is the unregulated monopoly output? (enter your response as a whole 80- number) 70- PES00 60- The total unregulated welfare (CS + PS) is $. (round your answer to the nearest penny) 50 40- tMicEs3d 30- What is the optimal monopoly regulated price? $ (enter your response as a whole number) 20- The total regulated welfare (CS + PS) is $. (round your answer to the nearest penny) 10- Q=3 MR 40 50 60 Quantity 20 30 70 80 90 100 10 tv 20 MacBook Air S0 DII F2 F3 F4 F5 F6 F8 F9 @ # $ & 1 2 3 4 5 8 9 Q W E Y | A S D F G H K C V B N M Fon command
Review the graph at right. Monopoly 100- What is the unregulated monopoly price? $ (enter your response as a whole number) MC 90- What area represents the consumer surplus for an unregulated monopolist? 80- 70- P= $60 60 What area represents the producer surplus for an unregulated monopolist? A, B, & C - What area represents the deadweight loss? 50- 40- D MC = $30 30- The welfare for the unregulated monopoly is V the welfare when optimal monopoly regulation is used. 20- 10- Q = 3OMR ó 10 20 30 40 50 60 70 80 90 100 Quantity 0- DEC dtv A 20 MacBook Air DII F11 F10 F4 F2 F3 & %23 %24 7 8. 3 4 { P Q W E R Y F G J K L A S D > C V M command option on command .. .- リ • V * CO
Review the graph at right. Monopoly What is the unregulated monopoly price? $ 60 (enter your response as a whole number) 100- 90- What is the unregulated monopoly output? 30 (enter your response as a whole number) MC 80- The total unregulated welfare (CS + PS) is $1800 (round your answer to the nearest penny) 70- 60- What is the optimal monopoly regulated price? $(enter your response as a whole number) 50- The total regulated welfare (CS + PS) is $. (round your answer to the nearest penny) 40- TMCE$30 30- 20- 10- 0- 10 Q#3 MR 20 30 40 50 60 70 80 90 100 Quantity O stv DEC 20 MacBook Air DII F10 FB F3 F4 FS F2 F1 # % & 1 2 3 4 5 7 8 9 { T Y P Q W E G H J K A > C V B command option tion command .. .- D.
Review the graph at right. What is the unregulated monopoly price? $60 (enter your response as a whole number) What is the unregulated monopoly output? (enter your response as a whole number) The total unregulated welfare (CS+PS) is $. (round your answer to the nearest penny) What is the optimal monopoly regulated price? S response as a whole number) (enter your The total regulated welfare (CS+ PS) is $ (round your answer to the nearest penny) Price 100- 90- 80- 8 70- 60 50 40 30- 20 PHS00 MC $30 104 Okt 0 Monopoly QMR ++ 10 20 30 40 50 60 70 80 90 100 Quantity MC C Q
Review the graph at right for a monopoly market (enter all of your responses as whole numbers). How much is the consumer surplus? $ 450 How much is the producer surplus? $ 1350 How much is the deadweight loss? $ 225 Monopoly total surplus is $ A *** 80- 160 60**** 30- 10- 0- Price 0 MC MR D 10 20 30 40 50 60 70 80 90 100 Quantity
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Consider the local telephone company, a natural monopoly. The following graph shows the demand curve for phone services, the company's marginal revenue curve (labeled MR), its marginal cost curve (labeled MC), and its average total cost curve (labeled AC). (Hint: Click a point on the graph to see its exact coordinates.) PRICE (Dollars per month) 160 140 120 100 80 60 40 20 0 0 1 MR 2 3 4 567 QUANTITY (Thousands of households per month) AC MC D 8 (?)
Suppose a monopoly has a cost curve equal to C=6400 + 100Q. The firm's demand curve is p= 500 - 4Q. (Round all numeric responses to two decimal places) What is the monopoly's unregulated profit-maximizing quantity? los tv 13 DII F9 F6 F7 esc F4 F5 %23 $4 & ! 3 4 7 Q W IT Y U tab A S G K caps lock C V shift fn control option command
Draw the graph. If the monopoly is a single price monopoly then: the monopoly produces a quantity Q = ______ where ________________ (which curves intersect?) the monopoly charges a price of P = ________ the consumer surplus is CS = ______ (identify the area on the graph and calculate it). the producer surplus is PS = _________(identify the area on the graph and calculate it). the deadweight loss of the monopoly (as compared to perfect competition) is DWL = ______ (identify the area on the graph and calculate it).
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