The demand curve for a monopolist is inelastic. Why?

Q: Why don’t monopolists try to establish the highest price possible, as many people allege? What would…

A: For the existence of monopoly the three conditions are necessary: 1. There is a single producer  2.…

Q: A monopolist can sell the same product to different consumers at different prices.

A: Monopoly generally occurs when there is only one supplier of a particular commodity in the market.…

Q: Suppose that the picture below shows market demand and costs for a monopolist. price 9 8 7.00 6.50…

A: In a monopoly market structure,  There exists a single seller. There exists high barriers to entry…

Q: Show how to derive a monopolist's supply curve

A: A market situation where there is only one seller of a commodity having no close substitutes is…

Q: Q* = How much profit did the monopolist earn? Profit = $

A: In economics, profit maximization is the short run or long run process by which a firm may determine…

Q: A monopolist is producing at a point where marginal cost exceeds marginal revenue. How should output…

A: Marginal revenue(MR) is the change in the Total Revenue(TR) on account of the sale of and additional…

Q: There is a monopolist in a market for a particular type of consumer goods. It is costly to create…

A: Monopolist market means when there are few firms in the market competing against each other for…

Q: Explain whether regulating a monopolist by forcing it to charge a price equal to its marginal cost…

A: The monopolist generally produced to get maximum profits which he can get at the situation where…

Q: Why is marginal revenue lower than price for a monopoly?

A: A monopoly is a form of imperfect competition that has a single seller and a large number of buyers.…

Q: How does a monopolist identify its profit-maximizing quantity of output?  Then how does it decide…

A: A market is a place where the sellers and the buyers interact with each other and the exchange of…

Q: maxi

A: A monopolist is a group, an individual or company which in turn controls all of the market either…

Q: The graph below shows the cost and revenue curves for IchiBan Inc., a monopolist.   a. What is the…

A:

Q: A multiproduct monopolist that sells two goods sells one of them at a price below its marginal cost.…

A: A monopoly is a market where a single seller sells the product and the product does not have any…

Q: To maximize its profit, a monopolist will ‏ a. raise output as long as marginal revenue exceeds…

A: If MR is less than MC, the firm incurs a marginal loss (= MC - MR), which can be minimized when firm…

Q: nt for a monopoly?

A: Explanation: The equality of worth and price means the commodity's worth is adequate for the…

Q: True or false. Monopolist can control the price.

A: A monopoly refers to a market in which there is only one seller that deals in a product that has no…

Q: Can a monopolist earn losses? If yes, then when and under what circumstances?

A: Yes, a monopolist can earn losses under certain circumstances. A monopolist is a single seller in a…

Q: in a monopoly, why is the Marginal Revenue curve is lower on the graph than the demand curve

A: In a monopoly there is a downward sloping demand curve, and it is an indicator as price falls…

Q: What is true about where a monopolist sets the price on the consumer’s demand curve? The monopolist…

A: Monopoly is one of the market form where there is only one seller selling unique product and is a…

Q: Is this possible that the Monopolists necessarily make the profit?

A: Answer: As we know that the general concept or impression is that the monopolist has complete…

Q: he monopolist that chooses a point on the demand curve where the elasticity of demand, in absolute…

A: We know that the total revenue is equal to TR=PQ Monopolists choose the point where the elasticity…

Q: monopolist (with increasing marginal cost as production increase) is producing at a point at which…

A: A monopoly is a market structure characterized by a single seller dominating the market. The market…

Q: Graph the following: The area of economic profit for a monopolist

A: A monopoly is a market structure where there is only one seller and many buyers. The seller has…

Q: Refer to the figure below. What are the monopolist's profits? Price 30 20 10 200 MR 400 D MC=AC…

A: In a monopoly market structure,  There exists a single seller. There exists high barriers to entry…

Q: Is a monopolist a price taker? Why or why not?

A: Perfect competition is the market structure with a large number of buyers and sellers who sell a…

Q: Is this possible that the Monopolists necessarily make the profit?

A: A monopoly market is the place where a seller experiences dominant power due to no close substitutes…

Q: hy is monopoly considered as a price maker?

A: A seller who has enough market power to fluctuating prices. In economics, market power is the…

Q: When price is equal to 270, a monopolist can sell 10 units of output, and when price is equal to…

A: When price(P) is 270 and quantity(Q) is 10 then Total Revenue ( TR)= P ×Q = 270 ×10 =2700

Q: Would a monopolist increase society’s economic welfare? explain with diagram if necessary

A: Monopoly refers to the market where only single seller exists in the market. Single seller has…

Q: do unregulated monopolists always make postitive economic profits? use a graph to show that a…

A: Unregulated monopolist:- A monopoly is a company which is the single supplier of its commodity and…

Q: The monopolist faces the demand curve P = 180-2Q/3. The monopolists marginal cost of production is…

A: Monopolist is the single seller in the monopoly market structure where they want to maximise the…

Q: Is Monopoly Efficient?

A: A monopoly refers to the special market type with only one seller and many consumers. It is the…

Q: What can a monopolist or a firm with market power do, in order to increase the profits?

A: Monopoly firm is characterized by the presence of single firm in the market. The single firm is…

Q: Graphically shows how monopolist can earn profit in short-run

A: Monopoly refers to the market structure in which there is a single seller than caters to the whole…

Q: The demand equation of a monopolist is P=156-Q2and marginal cost equation is MC=14+5Q then find the…

A: A market can be categorized into four different market structures. The following show the market…

Q: The demand equation of a monopolist is P = 173 - Q2 and marginal cost equation is MC = 6 + 7Q then…

A: The profit of the monopolist is maximized at a point where marginal revenue is equal to marginal…

Q: Why is the price charged by monopolist competitive firms above their marginal revenues? What is…

A: Meaning of Monopolistic Competition: The term monopolistic competition refers to the situation…

Q: A monopolist has a demand curve given by Q=100-P and a total cost curve given by TC= Q2 + 16. Find…

A: An industry is said to have monopolistic competition when there are many small sellers in the market…