Suppose that a monopolist sells both hamburgers and french fries. There are two types of customers withwillingness to pay listed below:Type Hamburgers French Fries1$411$2It costs the monopolist $1 to make hamburgers and $$0.50 to make fries. If the monopolist bundles themtogether, what is the profit they will earn?85Show Transcribed Text11Type Hamburgers French Fries$4$2$1.50$3.50Suppose that a monopolist sells both hamburgers and french fries. There are two types of customers with willingness to paylisted below:1.5023.504$1.50$3.503It costs the monopolist $1 to make hamburgers and $$0.50 to make fries. If the monopolist sells them separately, what is theprice they will charge for hamburgers?C

A monopolist is an entity or company that possesses a monopoly, which is a market shape the place a…

Suppose that a monopolist sells both hamburgers and french fries. There are two types of customers with willingness to pay listed below: Type Hamburgers French Fries 1 $4 11 $2 It costs the monopolist $1 to make hamburgers and $$0.50 to make fries. If the monopolist bundles them together, what is the profit they will earn? 8 6 05 Show Transcribed Text $1.50 $3.50 Suppose that a monopolist sells both hamburgers and french fries. There are two types of customers with willingness to pay listed below: Type Hamburgers French Fries I $4 11 $2 01.5 3.5 04 $1.50 $3.50 It costs the monopolist $1 to make hamburgers and $$0.50 to make fries. If the monopolist sells them separately, what is the price they will charge for hamburgers? C

Suppose that a monopolist sells both hamburgers and french fries. There are two types of customers with willingness to pay listed below: Type Hamburgers French Fries 1 $4 11 $2 It costs the monopolist $1 to make hamburgers and $$0.50 to make fries. If the monopolist bundles them together, what is the profit they will earn? 8 6 05 Show Transcribed Text $1.50 $3.50 Suppose that a monopolist sells both hamburgers and french fries. There are two types of customers with willingness to pay listed below: Type Hamburgers French Fries I $4 11 $2 01.5 3.5 04 $1.50 $3.50 It costs the monopolist $1 to make hamburgers and $$0.50 to make fries. If the monopolist sells them separately, what is the price they will charge for hamburgers? C

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following table refers to information about a monopolist. The demand and total cost schedules for the monopolist are presented. Quantity 1 2 34 5 6 7 ܒܢ Calculate the marginal revenue from selling the 4th unit of output. Express your answer without units (e.g., if your answer is "$400", write "400" in the answer box). Type your answer... W 3 LU E a $ 4 R ddelddeelala www 000 6 Sº % Price $30 $28 $26 $24 $22 $20 $18 5 T 6 MacBook Pro Y & 7 A U * 00 8 1 Total cost $10 $20 $30 $40 $50 $60 $70 W 9 P O O T a
6. The following graph shows the demand, marginal revenue, and marginal cost curves for a single-price monopolist that produces a drug that helps relieve arthritis pain.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
The following table shows the maximum amount five potential car buyers are willing to pay for each level of sales. Suppose that the cars are being sold by a car dealer operating as a monopoly (perhaps because there are no other car dealers in the market). Maximum Amount He or She Would Pay for the Car Buyer 1 $40,000 Buyer 2 $35,000 Buyer 3 $30,000 Buyer 4 $25,000 Buyer 5 $20,000 a) If the price of the car is $30,000, the revenue will be $............thousand.b) If the marginal cost of each car is $20,000. The monopolistic car dealer will want to sell 3 cars and the price will be $................. thousand.c) In a perfectly competitive market, the number of cars sold would be 5 cars. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
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Using illustration differentiate the behavior of a monopolist that aims at maximizing profit and a monopolist that aims at maximizing revenue
1. Refer to the figure below when the firm is a monopolist. Price P MC L K J ATC D T W Quaxtity \MR a) If the monopolist maximizes profit, how many units will it produce? b) What price will the monopolist charge? c) What area measure the monopolist's profit? d) What level of output would be socially efficient? 2. A Monopolist is facing a demand schedule that is shown in the following table. Quantity Total Revenue Average Revenue Marginal Revenue Price $35 $32 1 2 3 $29 14 $26 15 $23 $20 $17 $14 6 7 18 19 $11 10 $8 a) Fill out the rest of the table. b) Assume this monopolist's marginal cost is constant at $11. What quantity of output (Q) will it produce and what price (P) will it charge? ------
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
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2. A monopolist produces its output in two factories, whose cost curves are given by C1 (q1) = 10q and C2 (q2) demand for the firm's product is given by P = 700 – 5Q where Q is the total quantity sold by the monopolist. (a) On a diagram, illustrate the monopolist's decision about how much to produce at each factory and overall and the price to charge. Briefly explain your diagram. (b) Numerically calculate the monopolist's optimal choices for qı, q2, Q, and P. (c) Suppose that labor costs increase in Factory 1 but not in Factory 2. How should the firm change (i.e. raise, lower, or leave unchanged) each of the values you found in (b)? Your answer should be qualitative, not quantitative. 10q3 where q1 and q2 are the amounts produced at each factory. The diagram might be useful but is not necessary.
MC ATC P2 P3 P4 MR Q, Q2 Quantity In the figure above, if the monopolist maximizes profit, how many units of output will be sold and at what price? Quantity = Q2, Price = P1 Quantity = Q1, Price = P3 Quantity = Q1, Price = P4 Quantity = Q2, Price = P2 Quantity = Q1, Price = P1 Price