In the figure above the firm is suffering negative economic profit. O the firm is operating in a perfectly competitive industry. O the firm's short run shut down price is $9.
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- Return to Figure 9.2. Suppose P0 is 10 and P1 is 11. Suppose a new firm with the same LRAC curve as the incumbent tries to bleak into the market by selling 4,000 units of output. Estimate from the graph what the new firms average cost of producing output would be. If the incumbent continues. to produce 6,000 units, how much output would the two films supply to the market? Estimate what would happen to the market price as a result of the supply of both the incumbent firm and the new entrant. Approximately how much profit would each firm earn? Figure 9.2 Economics of Scale and Natural MonoploySuppose demand for a monopolys product falls 50 that its profit-maximizing price is below average variable cost. How much output should the film supply? Hint: Draw the graph.How is the perceived demand curve for a monopolistically competitive film different from the perceived demand curve for a monopoly or a perfectly competitive film?
- Draw the demand curve, marginal revenue, and marginal cost curves from Figure 9.6, and identify the quantity of output the monopoly wishes to supply and the price it will charge. Suppose demand for the monopolys product increases dramatically. Draw the new demand me. What happens to the marginal revenue as a result of the increase in demand? What happens to the marginal cost curve? Identify the new profit-maximizing quantity and price. Does the answer make sense to you? Figure 9.6 Illustrating Profits at the HealthPill Monolpolyystem (Academic) Mes of Microeconomics || Fall20 Suppose a monopolist's costs and revenues are as follows. ATC = S50, MC = $35; MR = $40; P $55. The firm should of Select one: O a. decrease output and increase price. tion O b. increase output and decrease price. O c not change output or price. O d. shut down. Next page s page 00 HUAWEI Nova 3 Al CAMERAK The following figure shows the revenue curves of a monopolist: Figure 11.6 5000 Price ($) 4000- 2500- 0 D. Average revenue MR: Marginal revenue O $500,000 200 O $300,000 O $350,000 O $250,000 In Figure 11.6, assume that marginal costs are constant at $2,500 and fixed costs are 0. What would be the amount of consumer surplus if the market was perfectly competitive? 400 O $1,000,000 MR Quantity 102°F Sunny
- Figure 16-5 The following graph depicts the market situation for a monopoly pastry shop called Bearclaws. PRICE 22 20 18 16 14 12 10 8 6 4 2 20 40 MR ATC D 60 80 100 120 140 QUANTITY Refer to Figure 16-5. Based upon the information shown, what price will Bearclaws charge to maximize profits? O a. $14. O b. $10.50. O c. $7. O d. $12.Figure Monpo12: A Fim in An Imperfectly Competitive Industry Price MC Given: ATC AVC Q* = 150 P* = $5.00 P* PATC PATC = $3.40 Pac PAVC = S0.50 D MR Quantity Refer to Figure Monpo12. Profits for this monopoly is about O No answer text provided. O $240 O No answer text provided. O $260Figure Monpo12: A Firm in An Imperfectiy Competitive Industry Price MC Given: Q* = 120 P* ATC AVC P* = S5.00 PATC PATC = $3.40 PAvC PAVC = S0.50 D MR Quantity Refer to Figure Monpo12. Profits for this monopoly is about O $192 O No answcr text providcd. O No answer text provided. O $196
- 3D. lon to Mathematical Economics i Iktisat(Ingilizce)(I.Ö) 2020-2021 Bahar If the demand function for a profit-maximizing monopolist is P = 32 - Q2 and MC = 8+ 6Q, what is the consumers' surplus? a. 3.33 O b. 5.33 O c. 4.33 O d. 6.33 yfa Sonraki sayfa mak için buraya yazınThe graph shows the average cost, marginal cost, demand, and marginal revenue curves for a monopoly firm. If the firm produces 45 units of output per day, it Price Average (dollars Marginal cost per unit) 10 cost 8 4 Demand Marginal revenue 10 20 30 40 45 Quantity (units per day) Select one: O a. will be maximizing profit. O b. will be able to increase profit by producing less per day. O c. will charge a price that exceeds its marginal cost. O d. will be able to increase profit by producing more per day.O Macmillan Learning (Figure: Monopoly Pricing and Output Decisions) Based on the graph, what is the equilibrium price for this monopolist? Price and Cost ($) 40 35 30 25 20 15 10 5 0 1 1 $30 $16 $20 O $12 2 st 4 6 8 10 1 lb 1 1 I C 12 14 Output 16 MC MR I 18 20 ATC 22 24 26