For Question#4 and Question#5 below, how do you get 93 and 5059? Suppose a single-price monopolist faces an inverse market demand curve given by P(Q) = 310-0.75Q and has a cost curve given by C(Q) = 100 + 40Q + 0.500Question 1How many units will the monopolist provide in the market equilibrium?Equilbrium quantity: 108. (Round your answer to two decimal places and use in subsequeont calculations.)Question 2What are the economic profits of this monopolist?Economic profits: 14480. (Round your answer to the nearest whole number.)Question 3How many of the profits are "unearned"? L.e., what are the economic rents of this monopolist?Economic rents: 8748. (Round your answer to the nearest whole number.)For the next two questions, consider the impact of a 22% ad valorem tax imposed on the consumers in this market.Question 4What quantity will be sold in the after-tax equilibrium?Equilibrium quantity: 93.00 units. (Round your answer to two decimal places and use in subsequent calculations.)Question 5What are the economic rents of the monopolist after this policy is imposed?Economic rents: 5059. (Round your answer to the nearest whole number.)

Ad-valorem tax is imposed on the value of the goods and services purchased by consumers, adding onto…

For the next two questions, consider the impact of a 22% ad valorem tax imposed on the consumers in this market Question 4 What quantity will be sold in the after-tax equilibrium? Equibrium quantity. 93.00 units. (Round your answer to two decimal places and use in subsequent calculations.) Question 5 What are the economic rents of the monopolist after this policy is imposed7 Economic rents: 5059. (Round your answer to the nearest whole number.)

For the next two questions, consider the impact of a 22% ad valorem tax imposed on the consumers in this market Question 4 What quantity will be sold in the after-tax equilibrium? Equibrium quantity. 93.00 units. (Round your answer to two decimal places and use in subsequent calculations.) Question 5 What are the economic rents of the monopolist after this policy is imposed7 Economic rents: 5059. (Round your answer to the nearest whole number.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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