ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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7
For the market demand given below and a Marginal Cost of $0 (zero), how many units of consumption are inefficiently excluded by
the monopolist? Hint Compare the monopoly quantity with the perfectly competitive market quantity at zero marginal cast.
Price
Quantity
$5
20
$4
30
$3
40
$2
50
$1
60
$0
70
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
50 units are excluded by the monopolist.
No consumption units are inefficiently excluded by the monopolist
40 units are excluded by the monopolist.
P.
30 units are excluded by the monopolist
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Transcribed Image Text:For the market demand given below and a Marginal Cost of $0 (zero), how many units of consumption are inefficiently excluded by the monopolist? Hint Compare the monopoly quantity with the perfectly competitive market quantity at zero marginal cast. Price Quantity $5 20 $4 30 $3 40 $2 50 $1 60 $0 70 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. 50 units are excluded by the monopolist. No consumption units are inefficiently excluded by the monopolist 40 units are excluded by the monopolist. P. 30 units are excluded by the monopolist
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