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Economics

Give pssible reasons for the poor performance of the monopolies

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Give pssible reasons for the poor performance of the monopolies

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Referring to the given graph of a monopoly firm, which statement states a correct outcome in case of single price for good is charged by a monopolist: D MR -MC-ATC D Quantity Area A represents the consumer surplus, Area C represents the producer surplus and deadweight loss is represented by area B+D+E. Area B represents the consumer surplus, Area C+D represents the producer surplus and deadweight loss is represented by area D+E. Area A+B represents the consumer surplus; Area C+D represents the producer surplus and deadweight loss is represented by area E. Area A+B represents the consumer surplus; Area C represents the producer surplus and deadweight loss is represented by area E+F.
Suppose a pure monopolist faces the following cost data, as shown by the table on the left, and the demand schedule, as shown on the right. a. Calculate the missing TR and MR amounts. Instructions: Enter your answers rounded to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Answer is complete and correct. Production and Costs Demand Average Fixed Cost Average Variable |Average Total Total Marginal Quantity Demanded Total Marginal Revenue Price Product Cost Revenue Cost Cost $115 2$ 0.00 1 $60.00 $45.00 $105.00 $45 100 1 $ 100.00 2$ 100.00 2 30.00 42.50 72.50 40 83 2 $ 166.00 2$ 66.00 3 20.00 40.00 60.00 35 71 3 $ 213.00 $ 47.00 4 15.00 37.50 52.50 30 63 4 252.00 2$ 39.00 12.00 37.00 49.00 35 55 24 275.00 $ 23.00 6. 10.00 37.50 47.50 40 48 6. 2$ 288.00 $ 13.00 7 8.57 38.57 47.14 45 42 7 24 294.00 2$ 6.00 8. 7.50 40.63 48.13 55 37 8. 2$ 296.00 $ 2.00 9. 6.67 43.33 50.00 65 33 24 297.00 2$ 1.00 10 6.00 46.50…
Barriers to entry often allow monopolies to earn economic profit in the long run is this true or false
Natural monopolies often occur because of huge economies of scale. is this true or false
true or false Natural monopolies are regulated by government agencies.
Graph the following: Graph showing where a natural monopolist prices
Consider the following graph for a firm with monopoly power: Price, Costs D E C - --- MC R - ------ - ----- ----- --- A J Output MR Compared to a single-price monopolist, a monopolist using first-degree price discrimination will earn extra producer surplus equal to the area O CDE plus FEH BCEF plus GEH O BCEF plus FEH CDE plus GEH
The figure below depicts a monopoly: 50 45 40+ 35 30+ 25 20+ 15 10+ 5- Price MR -MC-ATC Demand 50 100 150 200 250 300 350 400 450 500 550 600 Quantity If the monopolist cannot price discriminate, then consumer surplus amounts to
In a monopoly situation, the more inelastic is the demand, Seleccione una: a. higher is going to be the equilibrium price b. lower is going to be the equilibrium price c. lower is going to be the unbalance between demand and supply d. higher is going to be the unbalance between demand and supply
How can a monopolist identify the profit-maximizing level of output if it knows its marginalrevenue and marginal costs?