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- Question 7 State five criticisms of a monopoly.The figure below represents the demand and cost functions facing a Belarusian monopolist producing mineral fertilizer. 1) If it were unable to export, and was constrained by its domestic market, what quantity would it sell at what price? 2) How much is the international price and what quantity is produced? 3) The Belarusian firm is charging its foreign (Russian) customers one half the price it is charging its domestic customers. Is this good or bad for the real income or economic welfare of Russia? 4) Is this predatory behavior on the part of the Belarusian mineral fertilizer company? Is the Belarusian firm engaged in dumping? Please explain Dumping by Monopolist Price 20 MC 16 Dfor = MRfor 10 Ddom MRdom Quantity 10 20Please answer all questions 1) Briefly answer THREE of the following questions: (a) A unit tax on a monopolist will have no effect on quantity produced and prices. True or false, explain.
- E PRICE (Dollars per gigabyte of data) The following graph gives the demand (D) curve for 5G LTE services in the fictional town of Streamship Springs. The graph also shows the ma revenue (MR) curve, the marginal cost (MC) curve, and the average total cost (ATC) curve for the local 5G LTE company, a natural monopolist On the following graph, use the black point (plus symbol) to indicate the profit-maximizing price and quantity for this natural monopolist. 20 18 ATC 2 MR MC D 0 0 1 2 3 4 5 6 7 8 9 10 QUANTITY (Gigabytes of data) Monopoly Outcome Which of the following statements are true about this natural monopoly? Check all that apply. In order for a monopoly to exist in this case, the government must have intervened and created it. The 5G LTE company is experiencing diseconomies of scale. The 5G LTE company is experiencing economies of scale. It is more efficient on the cost side for one producer to exist in this market rather than a large number of producers. True or False: Without…Quantity, price, total revenue, and total cost for a monopoly firm that produces cement are listed in the table below. Quantity, (Q) (tons) Price (P) Total Revenue (TR) Total Cost (TC) 11 $1,000$1,000 $1,000$1,000 $710$710 22 $905$905 $1,810$1,810 $785$785 33 $810$810 $2,430$2,430 $875$875 44 $715$715 $2,860$2,860 $1,070$1,070 55 $620$620 $3,100$3,100 $1,310$1,310 66 $525$525 $3,150$3,150 $1,650$1,650 77 $451$451 $3,160$3,160 $2,290$2,290 Determine the firm's profit-maximizing price. Write the exact answer. Do not round.Problem 1. Market demand is P = 100-0.25Q, where Q is the total quantity demanded by consumers. Monopoly's costs are C = 10Q. (10 marks) a) Calculate prices and quantities if the monopoly uses block pricing with two prices. Calculate CS, DWL and firm's profit and demonstrate on a diagram. b) Find firm's output and profit if the firm engages in perfect price discrimination. Show on a diagram. I
- The figure on the right shows the demand schedule for a product produced by a single-price monopolist. Price ($) 10 987654 Quantity demanded A. 9; 10; -1 B. 40; 45; 5 C. 36; 41; 5 D. 5; 4; 1 E. 15; 15; 0 4 567892 10 Using the graph on the right, suppose this single-price monopolist is initially selling 4 units at $10 each and then reduces the price of the product to $9. By making this change, the firm is giving up revenue of Its and gaining revenue of marginal revenue is therefore (All figures are dollars.) Price ($) 141 13- 12- 11- 10- 9- 6- 5- 4- 3- 2- 1- -N 4 5 6 7 8 9 10 11 12 13 14 15 16 Quantity Q Q26 $55 $50 $45 I of $40 $35 $30 $25 $20 Demand = P $15 $10 $5 MR $0 40 80 120 160 200 240 Output (Q) The diagram above shows the Demand and Marginal Revenue curves for a monopolist. Which of the following general relationships is NOT demonstrated in the diagram? Select one: a. Price is greater than Marginal Revenue. b. Price equals Demand. c. The Marginal Revenue curve is steeper than the Demand curve. d. Marginal Revenue equals Price at each Output. $$$You are the owner of a monopoly firm. The demand curve that you face is: 100 0. 5Q - Your Total Cost and Marginal Cost are: 1035 +10Q +0. 5Q2 10 +Q TC |3| MC The government decides to regulate your firm and imposes the Efficient Price. What is the price you must set? Regulated Efficient price $77.5 Regulated Efficient price = $55 Regulated Efficient price = $60 Regulated Efficient Price = $70
