1. Supposed the firm has fixed cost production but no variable cost.The profit of firm is maximized when  a. It  produce at the level where it's a total revenue is maximized  b. It produce at the level where it's Marginal revenue is equal to price  c. It produce at the level where it can charge the highest price possible  d. It produce at the level where it's average cost is equal to its marginal cost

Hotel Nemo is the only under-sea hotel in the nation. The table sets out the demand schedule for hotel rooms and the cost schedule for running the hotel. Calculate Hotel Nemo's profit-maximizing price, output and economic profit if it charges a single price for all rooms. Hotel Nemo's profit-maximizing output is Hotel Nemo's profit-maximizing price is >>> Answer to 2 decimal places. rooms a night. a room. When Hotel Nemo produces the profit-maximizing output and charges the profit-maximizing price, economic profit is s >>> If the firm incurs an economic loss, indicate the loss with a minus sign. If the firm eams an economic profit, do not include a plus sign. Price (dollars per room) 272722NO 30 24 21 18 » 15 12 9 6 Quantity (rooms per night) 0 100 200 300 400 500 600 700 800 Total cost (dollars per night) 1,000 1,900 2,800 3,700 4,600 5,500 6,400 7,300 8,200

For a monopoly, at the level of output where marginal revenue equals zero, then the Select one: a. firm has maximized total revenue. b. firm is a price taker. c. price elasticity of demand at this amount of output is zero. d. firm earns no revenue.

1. For a price searching firm it's marginal revenue curve  (a). Is below it's marginal cost curve (b). Must be vertical (c). Must be horizontal (d). Is below it's a demand curve  2. The most common source of illegal Monopoly today is (a). Predatory pricing  (b). Intellectual property rights (c). Royal edict (d). Natural monopoly  3. The market demand is given by p= 420-0.05Q, vrp is the price of the good and Q is the quantity demanded at that price. The monopolist marginal revenue function in this market is  (a). MR= 210-0.05Q (b). MR= 420-0.05Q (c). MR= 420- 0.025Q (d). MR= 420-0.1Q 4. In the monopolized ( profit maximizing) market equilibrium p> MC( the price exceeds the marginal cost) this implies that  (a). The consumer surplus is equal to the producer surplus  (b). The total value of the good is maximized (c). The equilibrium is Marshall inefficient (d). The market price is equal to the market quantity  5. The market demand is given Q= 440-40P, where P is the price of the good…