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April 20, 2014

Search: 4. A monopolist has a constant marginal and average cost of $10

Number of results: 126

Economics
. Suppose the demand curve for a monopolist is QD =500 - P, and the marginal revenue function is MR =500 – 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist’s profit – maximizing output and price. b. Calculate the ...
Thursday, August 23, 2012 at 2:08am by Michelle

economics
Suppose the demand curve for a monopolist is QD = 500 − P, and the marginal revenue function is MR = 500 − 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a.Find the monopolist’s profit-maximizing output and price. b. Calculate ...
Thursday, October 17, 2013 at 2:09pm by Em

Economics
Suppose the demand curve for a monopolist is Qd = 500 – P, and the marginal revenue function is MR = 500 -2Q. The monopolist has a constant marginal and average total cost of $50 per unit. A. Find the monopolist’s profit- maximizing output and price. B. Calculate the ...
Monday, January 17, 2011 at 8:00pm by Michelle

microeconomic
Consider a monopolist facing a demand curve given by P = 20 – q, where P is the market price and q is the quantity sold. The monopolist's marginal costs are MC = 2 per unit and a fixed cost of $20. What is the monopolist's profit it is charges a uniform price?
Thursday, June 9, 2011 at 7:04am by sisca

Economics/Algebra
A monopolist has a constant marginal and average cost of $10 and faces a demand curve of QD = 100 - 10P. Marginal revenue is given by MR=100-.20P. a. Calculate the monopolist's profit maximizing quantity, price, and profit. b. Now suppose that the monopolist fears entry, but ...
Sunday, November 8, 2009 at 10:41pm by too old

economics
Suppose a monopolist faces an inverse demand function P=100-1/2Q, and the monopolist has a fixed marginal cost of $20. How much more would the monopolist make from perfect price discrimination compared to simply producing where marginal revenue equals marginal cost?
Wednesday, November 14, 2007 at 11:26am by jennifer

Economics/Math
The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monoploist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit maximizing output and price b.Calculate the monopolist's profit...
Sunday, November 8, 2009 at 9:16pm by too old

Economics/Algebra
The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monopoloist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit maximizing output and price b.Calculate the monopolist's profit...
Monday, November 9, 2009 at 9:33pm by too old

To: Economyst - Can you please help me?
The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monopoloist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit maximizing output and price b.Calculate the monopolist's profit...
Wednesday, November 11, 2009 at 9:15pm by too old

economics-micro
Hummm. This firm should act like a monopolist. Your P=15 and Q=60 are what the monopolist would do sans any government intervention. With a price cap below what the monopolist would charge, simply plug 14 into the demand equation and solve for Q. Total revenue will be 14*Q. ...
Tuesday, October 2, 2007 at 6:48am by economyst

econ
12. A monopolist faces a constant marginal cost of $1 per unit. If at the price he is charging, the price elasticity of demand for the monopolist’s output is –0.5, then
Friday, November 18, 2011 at 2:13pm by jay

mangerial economics
a monopolist has the following demand and Tc functions: Q=2,500-25P TC= 100,000 + 20Q+ 0.05Q^2 How much consumer surplus ($) will a monopolist transfer to itself
Wednesday, November 25, 2009 at 1:38am by Sam

economics
A monopoly firm is different from a competitive firm in that A. there are many substitutes for a monopolist's product while there are no substitutes for a competitive firm's product B. a monopolist's demand curve is perfectly inelastic while a competitive firm's demand curve ...
Wednesday, March 21, 2012 at 2:02pm by Anonymous

CALCULUS ECONOMICS
Consider an economy in which a monopolistic firm serves two identical, but separate markets, called A and B. The aggregate inverse demand in each market is given by 1000−q. The cost function for the monopolist is given by (qA+qB)^2, where qA andqB denotes the amount sold...
Thursday, March 13, 2014 at 3:52pm by Jenney

economics
A monopolist faces market demand given by P = 200 – Q. For this market, MR = 200 – 2Q and MC = 3Q. What quantity of output will the monopolist produce in order to maximize profits?
Thursday, November 3, 2011 at 2:41pm by martha

Economics
Suppose the demand curve for a monopolist is Qd = 500 – P, and the marginal revenue function is MR = 500 -2Q. The monopolist has a constant marginal and average total cost of $50 per unit.
Monday, January 17, 2011 at 7:14pm by Michelle

Economics
Q1) whether the following statement is true or not? some reasons plz~! "a monopolist produced 1 million units last year. If a $10 per unit tax is imposed, the profits of the monopolist will decrease by $10 million"
Monday, April 21, 2008 at 7:54pm by ZIO

Economics
Suppose there are three types of chip consumers in the world with three different inverse demand functions given by Pa=30-1/2P, Pb=40-1/2P, and Pc=50-1/2P. The marginal cost of the monopoly that produces chips is a constant $20. What size packages should the perfectly price ...
Wednesday, November 14, 2007 at 11:29am by ashley

Economics (Monopoly Pricing)
A monopolist produces a product whose demand price and production costs vary with quality s and quantity q according to P (s; q) = s (1 - q) C (s; q) = s^2 q [s-squared multiplied by q] Calculate the price and quality levels that a monopolist would choose, and the ...
Friday, August 22, 2008 at 1:10am by Nihl

Economics
A PURE MONOPOLIST SELLS OUTPUT FOR $4 PER UNIT. THE MARGINAL COST IS $3, AVERAGE VARIABLE COSTS ARE $3.75, AND AVERAGE TOTAL COSTS ARE $4.25. THE MARGINAL RVENUE IS $3. WHAT IS THE SHORT RUN CONDITION FOR THE MONOPOLIST AND WHAT OUTPUT CHANGES WOULD YOU RECCOMMEND IN THE ...
Sunday, June 1, 2008 at 3:40pm by Marquerite

managerial eco
A single price setting monopolist faces the demand : P = 4000-5Q, TC = 0 + 400Q. For the single price-setting monopolist, tell me profit maximizing quantity, price,total revenue, total cost, profit and consumer surplus.
Tuesday, April 19, 2011 at 10:38am by cj

Economics
A monopolist is in long-run equilibrium and earning economic profits equal $100 million. The government imposes a lump sum tax of $100 million on the monopolist. (A limp sum tax is a tax the monopolist must pay regardless of its level of output) Will this tax: a) cause the ...
Saturday, December 3, 2011 at 9:26pm by Jim

ECON
A pure monopolist sells output for $4.00 per unit at the current level of production. At this level of output, the marginal cost is $3.00, average variable costs are $3.75, and average total costs are $4.25. The marginal revenue is $3.00. What is the short-run and long-run ...
Tuesday, March 22, 2011 at 4:59am by KP

Microeconomics
The following table indicates the prices various buyers are willing to pay for a Miata sports car: Buyer A Maximum price $50,000 Buyer B Maximum price $40,000 Buyer C Maximum price $30,000 Buyer D Maximum price $20,000 Buyer E Maximum price $10,000 The cost of producing the ...
Saturday, December 5, 2009 at 11:33pm by Lorie

college/microeconomics
The following table indicates the prices various buyers are willing to pay for a Miata sports car: Buyer A Maximum price $50,000 Buyer B Maximum price $40,000 Buyer C Maximum price $30,000 Buyer D Maximum price $20,000 Buyer E Maximum price $10,000 The cost of producing the ...
Sunday, December 6, 2009 at 1:35am by Lorie

Economics
(a) Explain what is meant by the term “natural monopoly”. (b) Construct a diagram showing the average and marginal cost curves, and the demand and marginal revenue curves for a natural monopoly. Use your diagram to explain why profit maximising behaviour by the monopolist is ...
Saturday, May 21, 2011 at 5:41am by Giska

Economics
Do a little research, then take a shot. Hint: Draw a picture of a natural monopolist; (Demand and MR curves, and AC and MC curves). The defining characteristic of a natural monopolist is that AC is declining for most (all) of any likely output. If AC is declining, what does ...
Tuesday, October 2, 2007 at 8:06pm by economyst

economics
You have the following data. A monopolist produces 1000 units of output per month, and sells it at the price of 10 each. You know that the monopolist does not do any price discrimination, and you also know that the price-cost margin of this firm (P-MC)/P is evaluated at 0.2. ...
Thursday, January 13, 2011 at 5:50am by joe

microeconomics
Tough question. I believe the statement is false. For a perfect price-discriminating monopolist, the demand curve is also the MR curve. This monopolist does not get the same from each person. For the first person, the U gets the highest willingness to pay (P1). For the second ...
Wednesday, July 8, 2009 at 3:48am by economyst

econimics
Here are some links to try on monopoly: http://search.yahoo.com/search?fr=mcafee&p=the+monopolist+would+increase+or+decrease+output%3A+ Sra
Tuesday, April 12, 2011 at 8:27pm by SraJMcGin

microeconomics
the monopolist and the perfect competitor differ in that?
Saturday, April 19, 2008 at 6:17pm by Tashaml

Economics
TFC = $1,000 MC = $1 (and constant) 2.Assume that all households have the same demand schedule which is given by the following relationship: P = 10 – 2Q. If there are 400 households in the market, state what the market demand schedule and marginal revenue schedule look like ...
Sunday, November 26, 2006 at 6:26pm by Pete

economics
If q(P) = 100/P and c(q) = q2 , what is the optimal level of output of the monopolist?
Thursday, September 9, 2010 at 2:22am by Christine

college
A monopolist will always make a profit in the short run. true or false
Tuesday, March 2, 2010 at 2:16pm by Krysta

economics
Given that the monopolist demand curve is Qd=200-2P, TC=#900 and P= #55. What is the total profit?
Friday, April 9, 2010 at 8:48am by Samuel

economics
Give two examples of price discrimination. In each case, explain why the monopolist chooses to follow this business strategy.
Thursday, May 24, 2012 at 5:33am by tiffany

Economics
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000. 1. To maximize profits in the short-run, the monopolist should: (a) Increase output (b) ...
Sunday, December 4, 2011 at 4:15pm by Jim

Economics
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000. 1. To maximize profits in the short-run, the monopolist should: (a) Increase output (b) ...
Sunday, December 4, 2011 at 10:46pm by Jim

Economics
Hey just needed some pointers on the following questions. True or False? Explain.. 1. As long as the firm has to pay for an input, it would be wasteful not to use all input services purchased? 2. A profit-maximising competitive firm will never produce in the region where ...
Wednesday, October 11, 2006 at 5:05am by Jason

Economics
Chances are the monopolist would raise the price of the product by $10 a unit and the profits would remain the same.
Monday, April 21, 2008 at 7:54pm by Anonymous

economics
what is the consumer surplus, producer surplus and deadweight loss if a monopolist has demand p=100-Q and Cost= 10Q Thanks xox
Wednesday, February 3, 2010 at 7:19pm by chloe

econ
Market demand facing a monopolist is Qd=-5P+20. If the monopoly practices perfect price discrimination, what is the profit-maximizing level of output when MC=$2?
Thursday, October 31, 2013 at 4:55pm by sara

Economics
False: profits will decrease, but by an amount less than $10M. The monopolist will cut back on production; it will produce something less than 1 million units.
Monday, April 21, 2008 at 7:54pm by economyst

economics
A monopolist faces an upward-sloping marginal cost curve. Its profit-maximizing quantity will be a. at the minimum point of the marginal cost curve b. less than the (total) revenue-maximizing quantity c. equal to the (total) revenue-maximizing quantity d. in the unit elastic ...
Saturday, November 13, 2010 at 6:38pm by linda

microeconomics
They differ in the number of competitors. A monopolist, by definition, is the one and only firm producing some good or service. Under perfect competition, we assert there are a multitude of firms producing.
Saturday, April 19, 2008 at 6:17pm by economyst

economics
Give a numerical example to show that a monopolist's marginal revenue can be upward-sloping over part of its range. Hint: The price on the demand curve is the producer's average revenue
Sunday, April 29, 2012 at 9:42am by dee dee

economics
Give a numerical example to show that a monopolist's marginal revenue can be upward-sloping over part of its range. Hint: The price on the demand curve is the producer's average revenue
Sunday, April 29, 2012 at 10:08am by dee dee

economics
Suppose a monopolist faces production function Q = 3KL and demand function Q = 12 − P. Derive the input demand (as a function of Q, r and w) for capital and labor.
Thursday, March 31, 2011 at 11:54pm by Yash

Managerial economics
Which one is the best answer A tit-for-tat strategy may be implemented: a. as an attempt to cheat cooperating members of an oligopoly b. as an attempt to acquire market dominance and become a monopolist c. as a punishment strategy for cheating d. a and b e. none of the above
Monday, June 22, 2009 at 12:15am by Linda

Economics
As MC=MR, the monopolist is at its optimal position in the short run. However, as average total cost are above $4, the firm is losing money. So, long run, either the firm shuts down, or figures out a way to cut costs.
Sunday, June 1, 2008 at 3:40pm by economyst

microeconomics
If a monopolist is producing a quqnity that generates MC=Mr,then profit: a) is maximized b) is maximized only if MC=p c) can be increased by increasing production d) can be increased by decreasing production
Sunday, June 12, 2011 at 4:27pm by Jacque

mangerial economics
Take a shot, what do you think? Hint: On a graph, Consumer surplus is the area below the demand curve but above price. Compare the area using the Price the Monopolist would change to maximize his profits vs the price where P=MC. You will need to use some geometry.
Wednesday, November 25, 2009 at 1:38am by economyst

micro econ
For a monopolist, marginal revenue is declining. The MR line can cross the MC line if MR is declining faster than MC.
Tuesday, July 7, 2009 at 4:55am by economyst

Economics
50. In both monopolistic competition and non-price-discriminating monopoly, isn't the marginal revenue curve lies below the demand curve? 51. A monopolistically competitive firm is producing an output level where marginal revenue is greater than marginal cost. This firm should...
Tuesday, December 5, 2006 at 6:32pm by Sammy

Managerial Economics
A monopolist faces the price equation P = 1,000 – 0.5Q, and cost is given as TC = 400 + 100Q +2.5Q^2.Determine the profit at the revenue maximizing level and the profit maximizing level. Compare the answers above and comment on the appropriate goal of the firm.
Tuesday, November 24, 2009 at 8:51am by Dinish

Microeconomics
In a natural monopoly: A) Society would be better off if antitrust laws were used to create many different firms in the market B) The marginal cost curve is positively sloped C) If the government requires marginal cost pricing, it must pay the monopolist subsidy D) The ...
Tuesday, September 23, 2008 at 10:31am by G

Economics
A two product monopolist faces the demand and cost functions as below: Q1=40-2(P1)-(P2) Q2=35-(P1)-(P2) C=(Q1)^2+2(Q2)^2+10 a) Find the profit maximizing levels of output and the price charged for each product.
Thursday, May 6, 2010 at 11:18am by Anonymous

economics
Assume a monopolist with the following demand and cost relationships. Q = 400 - 20p TC = 10 + 5q + q2 Calculate the following: Profit max price Profit max quantity TR, TC, Profit, and the elasticity at profit max q and p.
Thursday, June 23, 2011 at 3:41pm by dave

Economics (Monopoly Pricing)
A monopolist will produce where marginal cost = marginal revenue. Total revenue is P*Q = s(1-Q)*Q = sQ - sQ^2 Total cost is s^2Q Take the first derivitive (with respect to Q): MR = s - 2sQ MC = s^2 Take it from here, Solve for Q.
Friday, August 22, 2008 at 1:10am by economyst

Economics
Assume a monopolist with the following: a. Qd = 100 – 10p b. TC = 1 + 2Q Find the following: Price at profit max Quantity at profit max TR at profit max TC at profit max Profit
Tuesday, July 27, 2010 at 7:47pm by mike Gee

microeconomics - ("economyst" i need your help)
hey thanks for previous replys to earlier questions...espicially "economyst", you have been a great help !!! stuck on these questions, so if anyone can help plz do !! Q:state whether the folloing statements are true or false and EXPLAIN clearly the reasons for your view ( P.s ...
Thursday, September 7, 2006 at 10:06am by brad

Macroeconomics
You want to determine the profit-maximizing production quantity for a monopolist. You can ask the firm's consultant to draw the firm's revenue and cost curves, but each curve would cost you $1,000. From the following list indicate which curves you will request and why? a) ...
Tuesday, July 10, 2012 at 7:27pm by Heather

econ
You want to determine the profit-maximizing production quantity for a monopolist. You can ask the firm's consultant to draw the firm's revenue and cost curves, but each curve would cost you $1,000. From the following list indicate which curves you will request and why? a) ...
Saturday, April 12, 2014 at 10:12am by bob

Macroeconomics
I need help to answer this question? You want to determine the profit-maximizing production quantity for a monopolist. You can ask the firm's consultant to draw the firm's revenue and cost curves, but each curve would cost you $1,000. From the following list indicate which ...
Saturday, April 12, 2014 at 12:06am by bob

Economics
Demonstrate how currency traders can leverage a small investment to produce a high rate of return. Check this site. http://www.gocurrency.com/currency-rates.htm a monopolist should produce (more, less or the same) to increase its profits?
Tuesday, May 1, 2007 at 3:22pm by Economics

Mircoeconomics
A significant difference between monopoly and perfect competition is that: A. free entry and exit is possible in a monopolized industry but impossible in a competitive industry. B. competitive firms control market supply but monopolies do not. C. the monopolist's demand curve ...
Monday, June 22, 2009 at 8:45pm by Nick

econimics
state whether the monopolist would increase or decrease output: a. Marginal revenue exceeds marginal cost at the output produced. b. Marginal cost exceeds marginal revenue at the output produced.
Tuesday, April 12, 2011 at 8:27pm by tommy

Econ
If a pure monopolist can price discriminate by separating buyers into two or more groups: A.the marginal revenue curve and the total revenue curve will now coincide. B.the marginal revenue curve will now shift to a position above the demand curve. C.the firm will face multiple...
Friday, November 30, 2012 at 11:18am by Brandon

Microeconomics
Q1, I agree Q2, why did you pick B? You already noted from Q1 that Price is above MC. I would go with C. Q3. I stand by my original answer. I confidently presume Revenue is Price*Quantity, and profit is Revenue less costs. Unless marginal costs are zero, the optimizing point ...
Monday, October 20, 2008 at 9:38am by economyst

Economics
Goodday I would like to find out whether the following statements are true:  The equilibrium of the firm and the equilibrium of the industry are the same in the short run as well as the long run.  In the short run, the firm is in equilibrium when MC=MR=P &#...
Monday, April 12, 2010 at 8:03am by Haseena

Economics 101
Hey guys my Econ final is on Tuesday and I could use some help. These are 4 example questions true/false with explanation needed. 1. A monopolist will produce less and charge a higher price than a perfectly competitive industry. 2. Regardless of the type of price control, if ...
Sunday, May 4, 2008 at 4:42pm by Zach

Economics
got this from my teacher, A monopolist faces a demand curve given by the following equation: P = $500 − 10Q, where Q equals quantity sold per day. Its marginal cost curve is MC = $100 per day. Assume that the firm faces no fixed cost. and have the answers for most, but ...
Tuesday, May 7, 2013 at 6:47am by Julie

Micro-Econ
Ok, I see your graph. It looks like the demand curve crosses the x-axis at about 30. So, the demand curve can be expressed as P=120-4Q. Your question is for a simple monopolist. Total revenue is P*Q = 120Q-4Q2. MR is the first derivitive, so MR=120-8Q. It looks, from your ...
Sunday, August 2, 2009 at 10:20pm by economyst

Managerial Economics
Take a shot, what do you think. Hint: you have a price-discriminating monopolist. First determine the Marginal revenue equations for each market. Marginal Cost is zero in both. So, allocate the marginal car to the market where MR is highest. Since the two demand curves have ...
Monday, January 12, 2009 at 2:02pm by economyst

microeconomics
whew. Quite a bit. But since you asked and since you demonstrated that you tried first. 50) I think d, average total cost 51) I agree 52) I think c, price takers 53 to 56) I agree 57) I think b, zero economic profit means zero opportunity cost 58 to 61) I agree 62) I think b. ...
Monday, May 4, 2009 at 4:03pm by economyst

Microeconomics
I fully agree with the quote, and the quote is referring to an area not covered by your initial question. Economically efficient allocation of resouces calls for the marginal cost of producing the last unit to equal the marginal benefit of that last unit. And marginal benefit ...
Monday, October 20, 2008 at 9:38am by economyst

Microecnomics
A firm is a monopolist in the production of a fuel sensor system. It faces monthly market demand that varies according to the equatioin Q=310-0.25P, where P is the price per system in dollars. The firm earns Marginal revenue accordind to the equation MR=1240-8Q & incurs ...
Thursday, April 16, 2009 at 11:12am by John

economics
1. Assume there are three markets: A: Wool; B: Synthetic Fiber; C: Business Travel. Assume we are in the years after the introduction of synthetic fibers. Using demand and supply analysis explain what happens in the SHORT RUN in all three markets and why? 2.Assume a monopolist...
Monday, July 26, 2010 at 5:18pm by mike Gee

math, economics
Consider a market in which consumption of the good being traded generates a positive externality. There are 100 identical consumers, each with a utility function given by 1/2√q+m+√G, where G denotes the total level of consumption in the market. The good is sold by ...
Monday, March 24, 2014 at 12:55am by Nick

Economics
For the following characteristic say whether it describes a perfectly competitive firm, a monopolistically competitive firm, monopoly firm, or neither. a. Has marginal revenue less than price. I would think this would be neither. b. Produces at minimum of average total cost in...
Tuesday, December 5, 2006 at 6:54pm by Sally

econ
1. Consider a pure monopolist with short-run total cost function given by STC = 1000 +200 Q + 12.5 Q2. Suppose also that this firm faces an inverse market demand function given by P = 800 – 20 Q. a. How much should this firm produce and what price should it charge in order to ...
Tuesday, July 5, 2011 at 9:50pm by LB

mathematical economics
suppose a monopolist produces and sells a product ona 2 diferent markets. demand function on the two markets are repectively i=market 1 / ii=market 2 Pi= 200-2Qi Pii=180-4Qii cost function is C=20(Qi+Qii) A) what Quantities and price that maximize the firm's profit B) how much...
Tuesday, August 25, 2009 at 10:41am by ismail

Microeconomics [Urgent!]
I have an exam tomorrow and I really need to know how you get the following answers. Please show me! I know it's a lot of questions, but I don't understand how you get the answer... ------------------ 40. At Nick's Bakery, the cost to make his homemade chocolate cake is $3 per...
Monday, December 8, 2008 at 2:15pm by Anonymous

economics
a monopolist, has a total cost curve given by TC = 5Q + 15. He sets two prices for his product, a regular price, PH, and a discount price, PD. Everyone is eligible to purchase the product at PH. To be eligible to buy at PD, it is necessary to present a copy of the latest ...
Friday, January 8, 2010 at 5:53am by v

economics
I presume you can determine the price the monopolist will charge. (hint: MR=100-2Q, MC=10) Draw a graph showing the demand line, the MC line, the MR line, the maximizing price and quantity. Consumer surplus will be the triangle area below demand but above price. Producer ...
Wednesday, February 3, 2010 at 7:19pm by economyst

Managerial Economics/Math
This is a standard monopoly model question. (JALT acts like a monopolist). So, find the point where marginal cost (MC) = marginal revenue (MR). MC is easy. its the $4000 fee paid to Harvey. Total revenue is P*Q = 5000Q+40Q^2. Marginal revenue is the first derivitive of total ...
Wednesday, September 19, 2007 at 3:29pm by economyst

Economics
3. Suppose the Clean Springs Water Company has a monopoly on bottled water sales in California. If the price of tap water increases, what is the change in Clean Springs' profit-maximizing level of output, price, and profit? Explain in words and with a graph. I would think that...
Sunday, December 3, 2006 at 8:32pm by Mariah

economics
Drawing a picture would help. A normal monopolist would set MC=MR. Under this example, optimal Q=80, thus P=60. Total revenue is 80*60=4800. Total cost (represented by the area under MC between 0 and 80) is 80*20=1600. So, profit = 3200. For the perfect price discriminator, ...
Wednesday, November 14, 2007 at 11:26am by economyst

College microeconomics
Sue: good point, but I still stand by my answer. In a competitive labor market, the wage rate IS the marginal factor cost. That is, W=MFC. MFC would be the correct answer when MFC does not equal the wage rate. This would occur, for example, if a firm that wants to hire has to ...
Tuesday, April 14, 2009 at 7:43pm by economyst

economics
This is a classic maximize-profits for a monopolist. Always, always, always, maximize where marginal cost (MC) equals marginal revenue (MR). OK, Total Revenue is P*Q. Using your demand equation TR=35Q-.02Q^2. Marginal revenu is the first derivitive of total revenue, so MR=35-....
Tuesday, April 7, 2009 at 2:45pm by economyst

Economics/social studies
I disagree. The "invisible hand" has nothing to do with moral precepts. The firm is a profit maximizer. It provides a product and changes the maximum amount it thinks it can. People willing to pay the price do so. So the product goes to those people willing and able to pay the...
Tuesday, March 17, 2009 at 6:35pm by economyst

Economics
Assignment 3 1. Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn’t matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt. Driver 2 Left Right Driver 1 Left 0,0 -1000 -1000...
Monday, March 1, 2010 at 8:12pm by Harry

managerial economics
1. Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn’t matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt. Driver 2 Left Right Driver 1 Left 0,0 -1000 -1000 Right -1000...
Monday, May 17, 2010 at 12:17pm by paul

Economics
Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn’t matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt. Driver 2 Left Right Driver 1 Left 0,0 -1000 -1000 Right -1000, -...
Monday, February 14, 2011 at 11:18am by Michael

CALCULUS ECONOMICS
Consider a market in which consumption of the good being traded generates a positive externality. There are 100 identical consumers, each with a utility function given by (1/2)*(q^(1/2))+m +(G^(1/2)) where G denotes the total level of consumption in the market. The good is ...
Thursday, March 13, 2014 at 4:08pm by Jenney

economic
Suppose that your firm was accused of illegally conspiring with other sellers to act as a monopolist. In searching for an expert witness, you discover one economist who has calculate the cross elasticity of demand for your industry's product to be+2.05, while another economist...
Friday, October 13, 2006 at 12:39am by sherry

managerial economics
Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn’t matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt. Driver 2 Left Right Driver 1 Left 0,0 -1000 -1000 Right -1000, -...
Monday, May 17, 2010 at 12:17pm by Anonymous

econ
2. A monopolist has two plants, A and B, with respective marginal cost functions given by MCA = 10 +QA and MCB = 10 + 2QB. It faces a demand curve given by P = 70 – 1/6 Q. a. What is the expression for this firm’s marginal cost function? b. How much will this firm produce in ...
Tuesday, July 5, 2011 at 9:50pm by ln

microeconomics - monopoly vs perfect competition
hi, can sum1 help me? wats difference between monopoly and perfect competition? one is a solely dominated market and the other is a market with many producers 1)The monopolist is the price-maker. But the firm i under aperfect compepetion is the price-taker. 2)Products under ...
Wednesday, November 8, 2006 at 11:30pm by RyaN

microeconomics
A) When firms in competitive markets maximize profits by expanding Q until MC= P, they are devoting resources to their highest valued use. (since consumers expand their purchases until MU=P, MU=MC when firms expand Q until MC=P.) B)In order to maximize profits, monopolists ...
Friday, July 24, 2009 at 3:00pm by Gaz

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