Homework Answers
1. MR when when quantity is 30 = Change in total revenue / Change in quantity
= (2400 - 1350) / (30 - 15)
= 1,050 / 15
= $70
2. MR when when quantity is 25 = Change in total revenue / Change in quantity
= (1200 - 900) / (15 - 10)
= 300 / 5
= $60
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#1
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I just need help with comparing monopoly to perfect
competition, which statement are true
Use the cost and revenue data to answer the questions. Price 90 80 Quantity 15 30 45 60 75 70 Total revenue 1350 2400 3150 3600 3750 3600 Total cost 900 1500 2250 3150 4200 5400 60 50 9040 If the firm is a monopoly, what is marginal revenue when quantity is 30? MR = $ 70 What is marginal cost when quantity is 60? MC...
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please answer all questions!
Figure 15-6 Price $20+ Marginal Cost 100 150 200 Quantity Marginal Revenue Refer to Figure 15-6. What is the deadweight loss caused by a profit-maximizing monopoly? O O $150 $200 $250 Os300 A monopolist faces market demand given by P - 60 - Q. For this market, MR = 90 - 2Q and MC - Q. What price will the monopolist charge in order to maximize profits? O $20 O $30 O so Osso In Canada,...
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