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- The accompanying diagram depicts a monopolist whose price is regulated at $10 per unit. Use this figure to answer the questions that follow. a. What price will an unregulated monopoly charge?$ b. What quantity will an unregulated monopoly produce?unitsc. How many units will a monopoly produce when the regulated price is $10 per unit?unitsd. Determine the quantity demanded and the amount produced at the regulated price of $10 per unit. Is there a shortage or a surplus?Quantity demanded: units Amount produced: unitsThere is: (Click to select) a shortage neither a shortage nor a surplus a surplus .e. Determine the deadweight loss to society (if any) when the regulated price is $10 per unit.$ f. Determine the regulated price that maximizes social welfare. Is there a shortage or a surplus at this price?$ There is (Click to select) neither a surplus nor a shortage a surplus a shortage at this price.The accompanying diagram depicts a monopolist whose price is regulated at $10 per unit. Use this figure to answer the questions that follow. a. What price will an unregulated monopoly charge? b. What quantity will an unregulated monopoly produce? c. How many units will a monopoly produce when the regulated price is $10 per unit? d. Determine the quantity demanded and the amount produced at the regulated price of $10 per unit. Is there a shortage or a surplus? e. Determine the deadweight loss to society (if any) when the regulated price is $10 per unit. f. Determine the regulated price that maximizes social welfare. Is there a shortage or a surplus at this price?The graph below shows the demand and marginal cost curves for the monopolist Mr. Peanut. a. Draw the marginal revenue curve. Plot only the endpoints of the graph below.The graph below shows the demand and marginal cost curves for the monopolist Mr. Peanut. a. Draw the marginal revenue curve. Plot only the endpoints of the graph below. b. What are the values of the profit-maximizing output and price? Output: Price: $ c. What are the values of output, price and total revenue when the firm’s total revenue is maximized? Output: Price: $ Total revenue: $ Give me proper answer otherwise i give downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
- in monopoly, market power permits you to price above MC. What limits how high a price you can set? a. government b. Depends on the demand elasticity for the product c. Depends on the supply elasticity of the product d. no limitThe accompanying diagram depicts a monopolist whose price is regulated at $10 per unit. Use this figure to answer the questions that follow. d. Determine the quantity demanded and the amount produced at the regulated price of $10 per unit. Is there a shortage or a surplus?Quantity demanded: Amount produced: There is: a shortage, neither a shortage nor a surplus, a surplus . e. Determine the deadweight loss to society (if any) when the regulated price is $10 per unit. f. Determine the regulated price that maximizes social welfare. Is there a shortage or a surplus at this price?MR MC ATC AVC Demand Suppose these curves are for a monopolist. A. Describe where on the graph to find the monopolist equilibrium. B. At the current price is the monopolist making a profit? Should the monopolist shut down?
- Which of the following is not a characteristic of a monopolist? A. A monopolist can sell as much as he/she wants to. B. A monopolist is a price maker. C. A monopolist faces the market demand curve. D. A monopolist is protected from competition. E. A monopolist can earn economic profits.Suppose that the monopolist's demand is: P = 8 – Q, and marginal revenue is: MR = 8 – 2Q. - The marginal cost is: MC = 2, and there is no fixed cost. a.Find out the profit maximizing output level. b.Specify the amount of economic profit or loss at the profit maximizing output. c.Calculate the price elasticity of demand at the profit maximizing point and explain it.a. Draw the cost curves for a typical firm. Explain how a competitive firm chooses the level of output that maximizes profit. At that level of output, show on your graph the firm’s total revenue and total cost. b. Draw the demand curve, marginal revenue curve, average total cost curve, and marginal-cost curve for a monopolist. Show the profit-maximizing level of output, the profit-maximizing price, and the amount of profit. c. Why the demand curve for a firm operating in monopolistic competition is more elastic compared to the firm operating as a monopoly. Kindly answer all the sub parts.
- K By forcing monopolists to set price equal to marginal cost, A. economic loss can occur. B. economic profit is guaranteed. C. deadweight loss can not occur. D. production is guaranteed.Which statement is NOT correct? a. Monopolists charge higher prices than do competitive firms. b. Monopolists always earn a positive economic profit, whereas competitive firms may incur losses. c. Monopolists are price makers; competitive firms are price takers. d. Monopolists tend to be inefficient because they do not face the same market pressures as competitive firms.Assume the cost of producing the goods is zero and that each consumer will purchase each good as long as the price is less than or equal to value. Consumer values are given in the following table. Consumer A Consumer B Good 1 $2,300 $2,800 Good 2 $1,700 $1,200 What is the total profit to the monopolist from selling the goods separately? a. $4,500 b. $6,300 c. $7,000 d. $6,000
