If the monopolist depicted in the graph above sets the price to maximize profit, it will earn economic profit of: Group of answer choices a. $2,400 per day. b. $4,800 per day. c. $7,200 per day. d. $1,600 per day.

Use the graph to answer the following 5 questions. A single priced unregulated monopolist faces the demand curve and has the cost curves illustrated in the diagram below. 1. What is the profit Price maximizing quantity of output? 70 a) 25 units. b) 40 units. c) 50 units. d) 60 units. 60 e) 70 units. f) 80 units g) 90 units Marginal Cost 50 2. What price does this monopolist charge? a) $58 b) $20 40 Average Total Cost c) $35 d) $30 e) $45. f) $50 30 g) $40 h) $38 3. What are the total profits? a) $1200 b) $0 c) $1250 d) $200 e) $250. f) $2250. g) $150 h) $1600 20 10 Demand 20 40 60 80 100 120 140 160 Quantity

Suppose the table below presents the demand schedule of the sole medicine manufacturer in the country. The marginal and average cost of the monopolist is constant at 5. Quantity Price 10 1 8 3 7 4 7 8. 6. 10 What is the profit maximizing quantity and price? Please show how you got your answer. 6 4.

QUESTION 1 A. The total cost function for a monopolist is given by TC = 44,000 + 180Q + 0.03Q² and the demand function is P = 420 – 0.06Q per unit of output. i. What is the profit maximising level of output? ii. Calculate the profit maximizing price. iii. Calculate total profit at the profit maximising level of output.

Suppose a monopolist sells a product to faculty members and students on the campus.  If the firm sets a single price, the monopolist produces 5000 units and sell them at the price of $3 per unit.  At this price, the price elasticity of demand for faculty member is -2.5. And the price elasticity of demand for students is -1.5.  The monopolist is considering whether she should set different prices for the faculty members and students and asks for your advice.  The monopolist is thinking about charging faculty members a 10% higher price.  The quantity demanded by the faculty members would fall by  %. The monopolist is thinking about charging students a 10% higher price.  The quantity demanded by the students would fall by  %. Who should the monopolist charge more? mention faculty and students and how much

Suppose a monopolist is currently producing where its variable costs are $1 million. Its fixed costs are $1.5 million. Its revenues are $1.2 million. Should the firm shut down in the short run? Should it leave the industry in the long run?   a no; yes b no; no c yes; yes d yes; no

The data below relate to a monopolist and the product it produces. If the firm wants to produce where marginal revenue equals marginal cost, what is the firm's profit? Quantity Price per Unit Total Cost 0 $22 $20 1 $20 $24 2 $18 $27 3 $15 $32 4 $14 $40 5 $12 $49 6 $10 $59

Suppose that the monopolist's demand is: P = 8 – Q, and marginal revenue is: MR = 8 – 2Q. - The marginal cost is: MC = 2, and there is no fixed cost. a.Find out the profit maximizing output level. b.Specify the amount of economic profit or loss at the profit maximizing output. c.Calculate the price elasticity of demand at the profit maximizing point and explain it.

Refer to the figure above. The profit-maximizing  price for the monopolist is:     $7     $8     $6     $5

The demand (downward sloping line) and marginal cost (upward sloping curve) of a monopolist are shown. Use the segment tool to add a marginal revenue curve to the graph. Then, use the point tool to indicate the monopolists profit maximizing price/quantity combination. Segment Point A Undo - Redo x Reset 10 10 quantity Price