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3. Consider a uniform-price monopolist that faces demand curve P() 14 2Q and faces a total...
A natural monopolist faces the following demand curve: P = 409 - 2Q, its total cost...
A natural monopolist faces the following demand curve: P = 409 - 2Q, its total cost is given by: TC = 12800 + 9Q (marginal cost is the slope of total cost). (a) If the government regulates the monopolist to charge a socially optimal price, what price will it charge and how many units will it sell? How much are the profit, consumer surplus and producer surplus? (b) If it is not a regulated monopolist, what is its profit maximizing...
A natural monopolist faces the following demand curve: P = 202 - 5Q, its total cost...
A natural monopolist faces the following demand curve: P = 202 - 5Q, its total cost is given by: TC = 720 + 2Q (marginal cost is the slope of total cost). (a) If the government regulates the monopolist to charge a socially optimal price, what price will it charge and how many units will it sell? How much are the profit, consumer surplus and producer surplus? (b) If it is not a regulated monopolist, what is its profit maximizing...
A natural monopolist faces the following demand curve: P = 202 - 5Q, its total cost is given by: ...
A natural monopolist faces the following demand curve: P = 202 - 5Q, its total cost is given by: TC = 720 + 2Q (marginal cost is the slope of total cost). (a) If the government regulates the monopolist to charge a socially optimal price, what price will it charge and how many units will it sell? How much are the profit, consumer surplus and producer surplus? (b) If it is not a regulated monopolist, what is its profit maximizing...
A monopolist faces inverse demand P = on TC(Q) = cQ. (a) Find the optimal price,...
A monopolist faces inverse demand P = on TC(Q) = cQ. (a) Find the optimal price, P, and quantity, QM (b) Solve for the monopolist's optimal profits, TM (c) Graph the equilibrium and show consumer surplus, producer surplus and deadweight loss. Be 150 -3Q and total cost functi careful with the marginal cost curve. (d) Compute CS and PS. These will be functions of the cost parameter c. (e) Compute DWL. Similarly, it will be functions of the cost parameter...
A monopolist faces the following demand curve: P = 520 - 0.7Q, its total cost is...
A monopolist faces the following demand curve: P = 520 - 0.7Q, its total cost is given by: TC = 4600 + 0.3Q2 and its marginal cost is given by: MC = 0.6Q. (a) If it is a single price monopolist, what is its profit maximizing price and quantity? Show your work. How much is the profit? How much are consumer surplus and producer surplus? (b) Suppose it is a first degree price discriminator instead of a single price monopolist....
Suppose that market demand for a good is given by QD(P) = 10−P. The total cost...
Suppose that market demand for a good is given by
QD(P) = 10−P. The total cost of production is TC(Q) =
2Q2. Determine quantity QM and price
PM that a monopolist will choose in this market.
Calculate consumer surplus (CS), producer surplus (PS), and the
deadweight loss (DWL) resulting from the monopoly. Graphical
Solution would suffice!
1) (25 points) Suppose that market demand for a good is given by Q”(P) - 10-P. The total cost of production is TCQ) =...
7. A monopolist in the market for widgets is facing a demand curve P= 60 -...
7. A monopolist in the market for widgets is facing a demand curve P= 60 - Q. The marginal cost of producing Q units is equal to $Q. (a) Calculate the monopolist's profit maximizing price and quantity. Calculate producer, consumer, and total surplus, and deadweight loss. (b) The government wants to impose a price ceiling that will maximize the total surplus in the market. What price ceiling should the government set? What would be the new values of consumer and...
3. Monopoly Consider a situation where a monopolist faces the following inverse market demand curve 132...
3. Monopoly Consider a situation where a monopolist faces the following inverse market demand curve 132 - 2a p and the following cost function TС — 12g + 2q* a) Derive the marginal revenue and marginal cost functions b) What are the equilibrium price and quantity if this market behaved as if it were competitive? c) Calculate the Consumer Surplus, Producer Surplus and Welfare levels under perfect petition d) What are the equilibrium price and quantity when the monopolist produces...
Practice Question 4. The inverse demand curve a monopoly faces is p = 30 – Q....
Practice Question 4. The inverse demand curve a monopoly faces is p = 30 – Q. The firm's total cost function is C(Q) = 0.5Q² and thus marginal cost function is MC(Q) = Q. (a) Determine the monopoly quantity, price and profit, and calculate the CS, PS and social welfare under the monopoly. (b) Determine the socially optimal outcome and calculate the CS, PS and social welfare under the social optimum. (c) Calculate the deadweight loss due to the monopolist...
Suppose a monopolist faces a market demand curve of the form: P 122 - 0.2Q. This...
Suppose a monopolist faces a market demand curve of the form: P 122 - 0.2Q. This monopolist has a total cost curve given by: TC 2Q. If this monopolist can only charge a single price in the market to maximise profit, what is the consumer surplus generated by this monopolist? $8702.5 $18,600 $18,000 $9,000 $62
Suppose a monopolist faces a market demand curve of the form: P 122 - 0.2Q. This monopolist has a total cost curve given by: TC...
A monopolist faces inverse demand P = on TC(Q) = cQ. (a) Find the optimal price, P, and quantity, QM (b) Solve for the monopolist's optimal profits, TM (c) Graph the equilibrium and show consumer surplus, producer surplus and deadweight loss. Be 150 -3Q and total cost functi careful with the marginal cost curve. (d) Compute CS and PS. These will be functions of the cost parameter c. (e) Compute DWL. Similarly, it will be functions of the cost parameter...
Suppose that market demand for a good is given by
QD(P) = 10−P. The total cost of production is TC(Q) =
2Q2. Determine quantity QM and price
PM that a monopolist will choose in this market.
Calculate consumer surplus (CS), producer surplus (PS), and the
deadweight loss (DWL) resulting from the monopoly. Graphical
Solution would suffice!
1) (25 points) Suppose that market demand for a good is given by Q”(P) - 10-P. The total cost of production is TCQ) =...
7. A monopolist in the market for widgets is facing a demand curve P= 60 - Q. The marginal cost of producing Q units is equal to $Q. (a) Calculate the monopolist's profit maximizing price and quantity. Calculate producer, consumer, and total surplus, and deadweight loss. (b) The government wants to impose a price ceiling that will maximize the total surplus in the market. What price ceiling should the government set? What would be the new values of consumer and...
3. Monopoly Consider a situation where a monopolist faces the following inverse market demand curve 132 - 2a p and the following cost function TС — 12g + 2q* a) Derive the marginal revenue and marginal cost functions b) What are the equilibrium price and quantity if this market behaved as if it were competitive? c) Calculate the Consumer Surplus, Producer Surplus and Welfare levels under perfect petition d) What are the equilibrium price and quantity when the monopolist produces...
Practice Question 4. The inverse demand curve a monopoly faces is p = 30 – Q. The firm's total cost function is C(Q) = 0.5Q² and thus marginal cost function is MC(Q) = Q. (a) Determine the monopoly quantity, price and profit, and calculate the CS, PS and social welfare under the monopoly. (b) Determine the socially optimal outcome and calculate the CS, PS and social welfare under the social optimum. (c) Calculate the deadweight loss due to the monopolist...
Suppose a monopolist faces a market demand curve of the form: P 122 - 0.2Q. This monopolist has a total cost curve given by: TC 2Q. If this monopolist can only charge a single price in the market to maximise profit, what is the consumer surplus generated by this monopolist? $8702.5 $18,600 $18,000 $9,000 $62
Suppose a monopolist faces a market demand curve of the form: P 122 - 0.2Q. This monopolist has a total cost curve given by: TC...
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