Question

# Consider a market with the following demand curve: ? = 200 − 2? MC=20 Assume ?...

```Consider a market with the following demand curve:
```

? = 200 − 2?

MC=20

Assume ? > ???.

a. Find the perfectly competitive price and quantity.

??? = _____________, ??? =_____________

b. Find the monopoly price and quantity.

?? = _____________, ?? =_____________
c. Find the loss of consumer surplus in monopoly vs. perfect competition.
?????? =_____________
d. Find the producer surplus in monopoly.

?????????? =_____________
e. Find the deadweight loss in monopoly.

??????????? =_____________

#### Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
• ### 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...

• ### 2. Consider a market where demand is given by Q = 60 – P and the...

2. Consider a market where demand is given by Q = 60 – P and the marginal cost for every firm is \$15. a. Assume the market is perfectly competitive. Find equilibrium price and quantity. Calculate consumer surplus, producer surplus, total surplus, and deadweight loss. b. Now assume that there is only one supplier in the market. Find equilibrium price and quantity. Calculate consumer surplus, producer surplus, total surplus, and deadweight loss. Is total surplus higher or lower compared to...

• ### CENGAGE | MINDTAP Aplia Homework: Monopoly 5. Monopoly outcome versus competition outcome Consider the daily market...

CENGAGE | MINDTAP Aplia Homework: Monopoly 5. Monopoly outcome versus competition outcome Consider the daily market for hot dogs in a small city. Suppose that this market is in long-run competitive equilibrium, with many hot dog stands in the city, each one selling the same kind of hot dogs. Therefore, each vendor is a price taker and possesses no market power. The following graph shows the demand (D) and supply curves (S - MC) in the market for hot dogs....

• ### Price and cost per unit \$30 MC 24 АТС 22 20.80 20 18 Demand MR Quantity...

Price and cost per unit \$30 MC 24 АТС 22 20.80 20 18 Demand MR Quantity 104 62 83 Where is the profit-maximizing quantity and price for the monopoly represented above (1 point) a. Where is the profit-maximizing quantity and price if this monopoly where a perfect competition instead? (1 point) b. What is consumer surplus if this were a perfect competition instead (0.5 point) C. What is the gain in producer surplus under the monopoly? (0.5 point) d. What...

• ### Homework Chapter 11 Due March 3 :30 12 List the four criteria for a market to...

Homework Chapter 11 Due March 3 :30 12 List the four criteria for a market to be perfectly competitive G is perfectly competitive (or close to perfectly competitive a m e of a market that List the two criteria for how a monopoly arises. Give an example of a market that has monopoly for close to a monopoly Price 100 150 250 5000 What is the equilibrium price and quantity of this market is competitive Calculate producer surplus, consumer surplus,...

• ### Price and cost per unit \$30 MC ATC 24 22 20.80 20 18 Demand MR 62 83 104 Quantity Where is the profit-maximizing qu...

Price and cost per unit \$30 MC ATC 24 22 20.80 20 18 Demand MR 62 83 104 Quantity Where is the profit-maximizing quantity and price for the monopoly represented above (1 point) a. b. Where is the profit-maximizing quantity and price if this monopoly where a perfect competition instead? (1 point) What is consumer surplus if this were a perfect competition instead (0.5 point) d. What is the gain in producer surplus under the monopoly? (0.5 point) What is...

• ### Name: Consider the market for a good where the demand curve facing a firm who has...

Name: Consider the market for a good where the demand curve facing a firm who has considerable market power is given by P = 80 -0.05Q, the marginal revenue curve is given by MR = 80 -0.1Q, and the firm's marginal cost curve is given by MC = 17 + 0.020. a. If the firm behaves like a competitive firm, find equilibrium price and quantity. Graphically identify and calculate consumer and producer surplus. b. If the firm behaves like a...

• ### Monopoly - End of Chapter Problem 6. Consider the accompanying demand schedule for diamonds. The marginal...

Monopoly - End of Chapter Problem 6. Consider the accompanying demand schedule for diamonds. The marginal cost of producing diamonds is constant at \$100. There is no fixed cost. Price of Quantity of diamonds diamond demanded \$500 0 400 300 2 200 100 4 0 1 زرا 5 a. If De Beers charges \$300 for a diamond, calculate total consumer surplus by summing individual consumer surpluses. How large is producer surplus? Consumer surplus: \$ Producer surplus: \$ Suppose that upstart...

• ### Question Pricel and sesl per un MC ogLeo P. H Demand MA Quantity What is the profit-maximizing quantity for this mo...

Question Pricel and sesl per un MC ogLeo P. H Demand MA Quantity What is the profit-maximizing quantity for this monopolist and what is the price they will charge? (1 point) What is the consumer surplus in this monopoly (you can use the letters)? (0.5 points) The gain in producer surplus in this monopoly market is represented by the area (0.5 points) (Use the letters) The deadweight loss in this monopoly is represented by the area points) (use letters) If...

• ### Part E-H Assume a profit-maximizing monopolist faces a market demand given by P = (12,000 –...

Part E-H Assume a profit-maximizing monopolist faces a market demand given by P = (12,000 – 90Q)/100 and long run total and marginal cost given by LRTC = 5Q + Q2 + 40 (Note: The answer to this question must be hand-written.): a) Find the equation of the marginal revenue curve corresponding to the market demand curve. b) Find the equation for the marginal cost function. c) Find the profit-maximizing quantity of output for the monopoly and the price the...