A monopolist produces and sells 400 units at a price of $40 per unit. The monopolist’s marginal cost is equal to $15 and average cost is equal to $23. The monopolist's profit is: a) $6,800. b) $8,000. c) $10,000. d) $16,000. e) None of these are correct.
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- A monopolist with total cost 500 - 100Q + 3Q2 and marginal cost MC = 6Q - 100 faces average revenue (demand) P = 2,000 - 2Q and hence marginal revenue MR = 2000 - 4Q. Calculate: (a) the quantity that the monopolist will sell (b) the price that the monopolist will charge (c) the competitive quantity (d) the competitive price (c) the deadweight loss from monopoly powerA monopolist has four distinct groups of customers: group A has an elasticity of demand of 0.2, group B has an elasticity of demand of 0.8, group C has an elasticity of demand of 1.0, and group D has an elasticity of demand of 2.0. The group paying the highest price for the product will be group: a) D. b) C. c) B. d) A.A monopolist faces an inverse demand curve P(q) = 28 – 3q. The cost curve is C(q) = 10q. What is deadweight loss in this market? (a) DWL = 3 (b) DWL = 27/2 (c) DWL = 19 (d) DWL = 27 (e) None of the above.
- Currently a monopolist's profit maximizing output is 400 units per week and it sells output at price of $60 per unit. The total cost of the form are $10,000 per week. The firm is maximizing it's profit and it earns $40 in extra revenue from the sale of the last unit.The table below shows a monopolist's demand curve and the cost information for the production of its good. If the monopolist is trying to maximize its profit what would it be? Quantity Price per Unit Total Cost 10 $100 $100 20 $80 $400 30 $60 $800 40 $40 $1,400 50 $20 $2,400 Question 40 options: a) $1,200 b) $1,000 c) $1,600 d) $1, 800Currently a monopolist's profit maximizing output is 400 units per week and it sells output at price of $60 per unit. The total cost of the form are $10,000 per week. The firm is maximizing it's profit and it earns $40 in extra revenue from the sale of the last unit. Calculate the profit.
- A monopolist sells 100 units at a price of $10 per unit. The average total cost per unit is $6 per unit. What is the monopolists profit? Question 8 options: a) $200 b) $300 c) $400 d) $500A monopolist A.) Has perfectly inelastic demand curve B.) Is a price taker C.) Can always increase price to increase economic profit D.) Is rhe price maker E.) Has no control over the market price of the product it sellsThis monopolist will charge a price (of)
- For the Monopolist, Demand is given by, P = 120 - 5Q Total Cost = 480 +20Q What is the profit maximizing a) Quantity? b) Price? c) Profit?Which of the following is true for any monopolist ? (A) price equals marginal revenue (B) price is always greater than marginal revenue (C) price is always less than marginal revenue (D) price is always equals the average total cost (ATF)The data below relate to a monopolist and the product it produces. If the firm wants to maximize profit, what output and price will it choose? Quantity Price per Unit Total Cost 0 $22 $20 1 $20 $24 2 $18 $27 3 $15 $32 4 $14 $40 5 $12 $49 6 $10 $59 Question 1 options: a) Q=4 : P=$14 b) Q=5 : P=$12 c) Q=2 : P=$18 d) Q=3 : P=$15.