A perfectly competitive firm charges a price that is O lower; more O lower; less O higher; more O higher; less and produces than a monopolist.
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- ystem (Academic) Mes of Microeconomics || Fall20 Suppose a monopolist's costs and revenues are as follows. ATC = S50, MC = $35; MR = $40; P $55. The firm should of Select one: O a. decrease output and increase price. tion O b. increase output and decrease price. O c not change output or price. O d. shut down. Next page s page 00 HUAWEI Nova 3 Al CAMERAThe graph below shows cost and revenue curves for a monopolistically competitive firm. Price $2.00 $1.75 $1.50 $1.25 $1.00 $0.75 $0.50 $0.25 0 20 40 60 MR Quantity It will charge a price of $ ATC MC D 80 100 120 140 160 This monopolist's profit-maximizing output level is on the x-axis.] units. [Watch for the scaleIgor’s Christmas tree lot has a monopoly on sales of Christmas trees. To increase his sales from 100 trees to 101 trees, he must drop the price of all his trees from $28 to $27. What is Igor’s marginal revenue when he lowers his price and increases his sales from 100 to 101 trees?
- Based on the graph, what is the equilibrium price for this monopolist? 45 40 MC ATC 30 25 20 15- 10 MR 8. 10 12 14 16 18 20 22 26 Output O A. $30 O B. $16 OC. $20 O D. $12 24 4. Price and Cost ($)The following graph gives cost and revenue data for a monopolist: Costs and revenues $100 90 BO 70 60 50 40 30 20 10 20 40 60 MR Select one: OA. $60 and 40. OB. $10 and 70. O C. $25 and 110. OD. $30 and 100. OE. $45 and 70. 80 MC 100 120 140 Quantity per period Refer to the above graph to answer this question. If the monopolist is regulated and forced to charge the socially optimum price, what will be its price and output? Q no 9 Fir TirYou own Athleticon, which manufactures athletic wear. Your new contract with Atlanta United, a professional soccer team, allows Athleticon to be the sole suppler of athletic wear with the “Atlanta United” logo. No one lese can manufacture athletic wear with the “Atlanta United” logo. What do you think will be Athleticon’s level of profitability on the sale of “Atlanta United” athletic wear? Explain why. Your contract with Atlanta United only lasts 3 years. It was not renewed. Other firms can now manufacture athletic wear with the “Atlanta United” logo It is now 5 years after your contract with Atlanta United was terminated. Any manufacturer that wants to can manufacture and sell athletic wear with the “Atlanta United” logo. What do you think will be the level of profitability and rate of return on manufacturing athletic wear with the “Atlanta United” logo? Explain why.
- Create a Graph For this assignment; you will produce a marginal cost anatys graph and answer some cuestons. Steps competition, monopolistic compettion, cligopoly, monopoly) 2. Draw a marginal analysis graph. Trso it the market for the prodict vou chosef (Label the axes the margral cost carve (Mc), the marginal reverue curve (MiR), and the profit-maximizing cuantity (apm) You do not need to use reai numbers 3 Answer the reflection questions in complete sentences: What is your proouct and its price? What type of mankel does your product costin? Why is the margnal cost curve the same basic snape no manter the product? At the profit-makimizing quantify is the price of your procues equal to hipher than or lower than marginal Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Refer to the graph shown. The equilibrium quantity for the monopolist represented is: MC Price $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 $0 O OO O ATC MR 0 10 20 30 40 50 60 70 80 90 100 Quantity 100 50 30 70Question 1 Please review the graph below. Based on image, this is a a Price P₁ 1 P. monopolistic competitive firm; P2 b natural monopoly; P2 с monopolistic competitive firm; P1 A natural monopoly; P1 QM and will charge a price of MR Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. F E to maximize their profits. ATC MC Demand Qc Quantity
- In the long run, each firm in monopolistic competition O A. has the same markup and excess capacity as it would if the market was perfectly competitive OB. makes as much economic profit as it would if it was a monopoly OC. creates the same deadweight loss as it would if it was a monopoly OD. makes zero economic profit M NextStudy Tools ins ess Tips ss Tips PRICE (Dellars per engine) 288 RSS #RR 100 50 30 20 10 MO 0 0 10 ATC MR Demand 20 30 40 50 70 DO 90 QUANTITY (Thousands of engines) 100 Mon Comp Outcome Min Unt Cost Decause this market is a monopolistically competitive market, you can tell that it is in long-run equilibrum by the fact that optimal quantity. Furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium is average total cost. at the the minimumMarkbury is a monopoly selling widgets. If the government imposes a $100 000 tax on every monopolistic firm in the country, then Select one: a. Markbury’s annual profit will no change since its marginal cost is unchanged b. Markbury’s annual profit will fall by $100 000 since its marginal cost would rise by $100 000 c. Markbury’s annual profit will fall by less than $100 000 since its marginal cost would rise by less than $100 000 d. Markbury’s annual profit will fall by $100 000 but its marginal cost will not change e. The impact on Markbury’s profit is difficult ascertain, without more information