for a single price monopolist, marginal revenue is less than price because select one  a) the revenue gain from the last unit sold is offset by a revenue loss on the units that previously had been sold at a higher price b) the revenue gain from the last unit sold is offset by further gains in price on units not sold at all c)the price does not have to be lowered on all previous units sold d) the total revenue always decreases as output increases

Answer multiple choice

Would producer surplus with second-degree price discrimination not below a single price.

Subpart 7

A monopolist sells 15 holiday greeting cards for $5.00 apiece. If the monopolist desires to sell a 16th card, then the price must be lowered to $4.90. The marginal revenue earned from selling the additional card is $

Answer multiple choice

A firm facing a downward sloping demand curve is producing a level of output at which price is $16, marginal revenue is $12, and average total cost, which is at its minimum value, is $8. In order to maximize profit, the firm should decrease price. A monopolist is producing a level of output at which price is $138, marginal revenue is $72, average total cost is $72, and marginal cost is $103. In order to maximize profit, the firm should output. A firm with market power is producing a level of output at which price is $19, marginal revenue is $12, average variable cost is $14, and marginal cost is $26. In order to maximize profit, the firm should price.

The Buy n Large Corporation (BnL) is a monopolist in a market with the demand function:Qd = 320 − 4pBnL’s marginal cost function is:MC = 20/Q + 4and its average total cost function is:ATC = 240/Q + 20 + Q/8 (d) Suppose the government regulates BnL, so that they are forced to lower their price until social welfareis maximized. Determine the regulated price and quantity.(e) Draw a graph showing the demand curve, marginal revenue curve, and marginal cost curve. Label allaxes and curves. Mark out all intercepts, the profit-maximizing price and quantity, and the regulatedprice and quantity.(f) Determine the deadweight loss caused by BnL’s market power. Use your graph to help accomplish this

The demand function for a monopolist is given by: P1= 1,250 - 3.5 Q and the cost function if given by C(Q) = 1,200 + 2.8Q^2.  Graph this case and show optimal P, Q, and profits.

First degree price discrimination is inefficient because the monopolist will extract the entire consumer surplus. True or False?