The below graph represents a monopoly market, the revenue maximizing price is $ $ 10 9 8 7 6 S 4 3 2 1 0 0 1 Firm (Draw your graph in here) Average Total Cost 2 3 4 5 7 Marginal Cost / 1 9 Games 10
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- What is the main issue in an monopoly Market. Is Google a monopoly?Consider the daily demand for pizza at a local Italian restaurant, provided in the table below. The number of pizzas demanded at various prices in the table is also illustrated in the graph to the right. First, calculate the marginal revenue for selling pizza in the table. (Enter numeric responses using integers.) Quantity Price Total Revenue Marginal Revenue 0 $18 17 2 16 3 4 14 56 13 1724552 65432 0 32 56 65 Use the line drawing tool to graph the marginal revenue curve in the figure. Properly label this line. Carefully follow the instructions above, and only draw the required objects. Price (dollars per pizza) 20- 18- 16- 14 12- D 10- 8- 6- 4 2- 0+ 0 1 2 3 4 Quantity of Pizzas 5 6Draw the graph for a monopoly earning a positive economic profit. Suppose the government institutes a per unit tax on the good produced by the monopoly (consider the impact it will have on the cost curves). On the graph, show how this will affect the monopoly’s profit maximizing level of output and the price charged by the monopoly. Draw and Label Price Axis, Quantity Axis, Demand Curve, Marginal Revenue Curve, Marginal Cost Curve, Average Total Cost Curve, New Marginal Cost Curve, New ATC Curve, Qm, MR=MC, MR=MC1 Qm1, Pm, Pm1, ATC point, ATC1 point, Deadweight Loss, Total Revenue, Total Cost, Profit
- Price and cost (dollars) 50 40 30 20 ATC 10 MC MR 10 20 30 40 50 Quantity (thousands of households) The above figure represents the market for cable television in Oakland, Florida. Time Warner Communications (TWC) is the sole provider of cable television to the residents of this Central Florida community. If TWC operated under an average cost pricing rule, how many households in Oakland are served? 20,000 30,000 10,000 40,000Why does monopoly arise? How does monopoly make profit and loss? Graphically explainWhat is the relationship between economies of scale and a natural monopoly?
- 13. You just got a patent for the first commercial self-driving car. The following table shows the elasticity of the demand and the marginal cost of production of your cars in several production centers across the globe. Assuming that this are constant, can you approximate what would be the optimal price for your cars? City Marginal Cost Elasticity Price Wolfburg, Germany Barcelona, Spain Tokyo, Japan Ulsan, South Korea East London, South Africa Mexico City, Mexico $20, 000 $18, 000 $22, 000 $16, 000 $10, 000 $12, 000 -1.5 $60, 000.00 $24, 000.00 $33, 000.00 $32, 000.00 $11, 428.60 $14, 400.00 -4.0 -3.0 -2.0 -8.0 -6.0The following graph shows the daily demand curve for bippitybops in Detroit. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per bippitybop) OTAL REVENUE (Dollars) 2400 1600 100 90 1200 80 1000 70 800 60 50 40 30 20 2200 + 10 2000 + 1800 + 0 1400 + Calculate the daily total revenue when the market price is $90, $80, $70, $60, $50, $40, $30, and $20 per bippitybop. Then, use the green point (triangle symbol) to plot the daily total revenue against quantity corresponding to these market prices on the following graph. (?) 0 ** B Demand 80 10 20 30 40 50 60 70 QUANTITY (Bippitybops per day) 90 100 Total Revenue A ? Total RevenueGiven the company is monopolist. Suppose the government imposes a specific tax of 2 thousand dollars to the profit maximizing seller, graph the diagram, indicate the effect of this tax. (please explain what kind of the tax? )
- Consider the daily demand for pizza at a local Italian restaurant, provided in the table below. The nurmber of pizzas demanded at various prices in the table is also illustrated in the graph to the right. First, calculate the marginal revenue for selling pizza in the table. (Enter numeric responses using integers.) Quantity Price Total Revenue Marginal Revenue $19 1 18 18 17 34 3 16 48 15 60 14 70 13 78 Use the line drawing tool to graph the marginal revenue curve in the figure. Properly label this line. Carefully follow the instructions above, and only draw the required objects. 20- 18- 16 14- 12- 10 Quantity of Pizzas Price (dollars per pizza) 2.7. A model of price discrimination Teresa owns a plot of land in the desert that isn't worth much. One day, a giant meteorite falls on her property, making a large crater. The event attracts scientists and tourists, and Teresa decides to sell nontransferable admission tickets to the meteor crater to both types of visitors: scientists (Market A) and tourists (Market B). The following graphs show daily demand (D) curves and marginal revenue (MR) curves for the two markets. Teresa's marginal cost of providing admission tickets is zero. bongo Market A Market B 20 20 18 18 16 16 14 14 A 12 12 10 10 8 8 6. 4 4 2 2 PB MR A MR, 1 3 4 5 7 9. 10 1 2 4 6. 7 9. 10 QUANTITY (Admission tickets) QUANTITY (Admission tickets) PRICE (Dollars per ticket) PRICE (Dollars per ticket)What is the maximum profit for individual pricing
