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Refer to a graph that shows the marginal cost (MC), the average cost (AC), demand (D), and the marginal revenue (MR) for a monopoly COVID19 vaccine company to answer the following questions. P($) 40 MC AC 25 25 220 18 15 I .. UMR 40 50 60 1) At the market equilibrium, this company will produce [Select] [Select] per vaccine. Demand 120 Q vaccines and charge $ At the market equilibrium, consumer surplus is $ [Select] ° and the producer surplus is $ [Select] 2) Suppose that the price rises from $25 to $40. The price effect is $ [Select] quantity(output) effect is $ [Select] and the and total effect is $ [Select] 3) Suppose that the first 40 customers are charged $25 per vaccine and the second 20 customers are charged $20 per vaccine and each customer only buys one vaccine. There is a transfer of consumer surplus worth $ [Select] to producer surplus. This is called [Select] price discrimination. 4) In both an imperfect price discrimination and perfect price discrimination, there is [Select] deadweight loss.

Refer to a graph that shows the marginal cost (MC), the average cost (AC), demand (D), and the marginal revenue (MR) for a monopoly COVID19 vaccine company to answer the following questions. P($) 40 MC AC 25 25 220 18 15 I .. UMR 40 50 60 1) At the market equilibrium, this company will produce [Select] [Select] per vaccine. Demand 120 Q vaccines and charge $ At the market equilibrium, consumer surplus is $ [Select] ° and the producer surplus is $ [Select] 2) Suppose that the price rises from $25 to $40. The price effect is $ [Select] quantity(output) effect is $ [Select] and the and total effect is $ [Select] 3) Suppose that the first 40 customers are charged $25 per vaccine and the second 20 customers are charged $20 per vaccine and each customer only buys one vaccine. There is a transfer of consumer surplus worth $ [Select] to producer surplus. This is called [Select] price discrimination. 4) In both an imperfect price discrimination and perfect price discrimination, there is [Select] deadweight loss.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter9: Monopoly
Section: Chapter Questions
Problem 26CTQ: Why are generic pharmaceuticals significantly cheaper than name brand ones?
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Refer to a graph that shows the marginal cost (MC), the average cost (AC), demand (D), and the marginal revenue (MR) for a monopoly COVID19 vaccine company to answer the following questions. P($) 40 MC AC 25 25 220 18 15 I .. UMR 40 50 60 1) At the market equilibrium, this company will produce [Select] [Select] per vaccine. Demand 120 Q vaccines and charge $ At the market equilibrium, consumer surplus is $ [Select] ° and the producer surplus is $ [Select] 2) Suppose that the price rises from $25 to $40. The price effect is $ [Select] quantity(output) effect is $ [Select] and the and total effect is $ [Select] 3) Suppose that the first 40 customers are charged $25 per vaccine and the second 20 customers are charged $20 per vaccine and each customer only buys one vaccine. There is a transfer of consumer surplus worth $ [Select] to producer surplus. This is called [Select] price discrimination. 4) In both an imperfect price discrimination and perfect price discrimination, there is [Select] deadweight loss.
Transcribed Image Text:Refer to a graph that shows the marginal cost (MC), the average cost (AC), demand (D), and the marginal revenue (MR) for a monopoly COVID19 vaccine company to answer the following questions. P($) 40 MC AC 25 25 220 18 15 I .. UMR 40 50 60 1) At the market equilibrium, this company will produce [Select] [Select] per vaccine. Demand 120 Q vaccines and charge $ At the market equilibrium, consumer surplus is $ [Select] ° and the producer surplus is $ [Select] 2) Suppose that the price rises from $25 to $40. The price effect is $ [Select] quantity(output) effect is $ [Select] and the and total effect is $ [Select] 3) Suppose that the first 40 customers are charged $25 per vaccine and the second 20 customers are charged $20 per vaccine and each customer only buys one vaccine. There is a transfer of consumer surplus worth $ [Select] to producer surplus. This is called [Select] price discrimination. 4) In both an imperfect price discrimination and perfect price discrimination, there is [Select] deadweight loss.
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