5. 52 xx The Industry Indicated by the accompanying graphs would be a(n) Multiple Choice constant-cost Industry. Increasing-cost industry. monopoly industry. decreasing-cost Industry.
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- (a) Fill in the blanks with the following words. barriers to entry, long run, monopoly, perfect competition, short run, supernormal profits Under new firms are attracted into the industry and the abnormal profits are competed away as the market supply curve shifts to the right and the market price falls. However, which are the very source of monopoly can only exist in the as in the under new firms are unable to enter the market as there are various power. Thus a single firm may remain the only supplier, and supernormal profits may persist in both the short and long run; in monopoly, there is therefore no distinction between short and long run equilibrium.The graph shows the demand and cost conditions facing a perfectly competitive industry. If the industry is taken over by a monopoly, what is the deadweight loss that results from the behavior of the monopoly? The deadweight loss that results from the behavior of the monopoly is $ per year. >>> Remember that the quantity given on the x-axis is in thousands of pizzas. (...) 36- 32- 28- 24-23 20- 16- 12- 8- 4- 0- Price and cost (dollars per pizza) 0 12 8 15 MR 8 4 12 16 20 24 Quantity (thousands of pizzas per year) --+ 26 MC D L 28 QMonsanto holds significant regional monopoly power-in some regions they are a true monopoly being the only seller of agriculture seeds. If the elasticities of demand, JEDI, for soybean seeds is 3.5, and 3 for corn, then the profit-maximizing price (relative to marginal cost) for soybeans is times marginal cost, and the price is times marginal cost for corn. Round to one decimal if needed. A Moving to another question will save this response. « >
- When selling downloadable software, e-books, and music streaming platforms, the marginal cost of making one more unit is basically zero. The average total cost is currently $1 per book. If a monopoly is operating in this market and is maximizing profits, marginal revenue is Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Greater than $0 Less than $0 $0 d $1 e There is not enough information to answer this question.A large share of the world supply of diamondscomes from Russia and South Africa. Suppose thatthe marginal cost of mining diamonds is constant at$1,000 per diamond and the demand for diamonds isdescribed by the following schedule:Price Quantity$8,000 5,000 diamonds7,000 6,0006,000 7,0005,000 8,0004,000 9,0003,000 10,0002,000 11,0001,000 12,000a. If there were many suppliers of diamonds, whatwould be the price and quantity?b. If there were only one supplier of diamonds, whatwould be the price and quantity?c. If Russia and South Africa formed a cartel, whatwould be the price and quantity? If the countriessplit the market evenly, what would be SouthAfrica’s production and profit? What wouldhappen to South Africa’s profit if it increased itsproduction by 1,000 while Russia stuck to thecartel agreement?d. Use your answers to part (c) to explain why cartelagreements are often not successful.The following table represents a monopoly's total cost and total revenue at different output levels. What is the fixed cost when producing 20 units? Type your numeric answer and submit 19 Output (units) 0 5 10 15 20 25 Total Cost ($) 19 20 22 25 40 70 Total Revenue ($) 0 20 30 35 40 42
- :5 03:28:43 Mc Total Product 0 1 2 3 4 5 6 7 8 9 10 Price $ 20 Total Fixed Cost $150 150 150 150 150 150 150 150 150 150 150 Assume there are 600 firms in this industry with the same costs as in the table above. The industry demand curve is shown in the table below. In equilibrium, each firm will earn 30 45 60 75 95 120 150 Total Variable Cost $0 50 75 105 145 200 270 360 475 620 800 Multiple Choice O Quantity Demanded 6,800 5,975 5,500 5,125 4,500 4,200 3,600 2,400 an economic profit of $35. an economic profit of $155. a loss of $45. a loss of $135. EThe information in the table shows the total demand for water service in Takoma. Assume that there are two companies operating in Takoma. Each company that provides these services incurs an annual fixed cost of $400 and that the marginal cost of providing the service to each customer is exactly $2.00. Figures listed are for an annual service contract. Quantity 0 100 200 300 400 500 600 700 800 900 1000 1100 1200 Price 60 55 50 45 40 35 30 25 b. Refer to Table 17-36. Suppose these 2 firms are price competing with each other (as what happens in a perfectly competitive market). What would total output be? a. 0 21250 1200(1) Would you characterize Industry 4.0 as arevolution or more of an evolution? Why? (2) Whymight various companies have an interest inpromoting Industry 4.0 as a conceptual “brand”?
- Discuss in detail the equilibrium of a firm under monopoly.Q. 3. What do you mean by simple linear regression line. Estimate, Y , given thefollowing data:-Demand 3 4 5 6 7 9 8 10 12 14Price 16 13 10 7 7 5 4 3 4 2Consider a market with a monopoly firm. Sales revenue of this firm is $15,960,000 total cost is $8,680,000 and average cost is $3.10 Another firm wants to enter the market and provide the same product at a lower price. To intimidate the potential competitor, the monopoly firm intends to use predatory pricing.By how much can this firm reduce the price of its product without losses? Enter your answer in the box below and round to two decimal places if necessary.Long Ron Marginal Cou Long-Run Average Total Cost Love Star College-North Hants Iretructor Dr. rahim Abou Saad Demand Curve 02 Outpat (Q) Marginal Revenue Referring to the figure above for a profit-maximizing monopolist, which of the following output sizes represents the most productively efficient output that the monopoly regulators can enforce against this monopolist? (Hint: production efficiency increases when producing at a lower average cost) O Q1 Q2 Q3 Q4 Q5 Q6