Unique Creations holds a monopoly position in the production and sale of magnometers. The cost function facing Unique is estimated to be TC=$100,000+20QTC=$100,000+20�   What is the marginal cost (MC) for Unique?      If the price elasticity of demand for Unique is currently –1.5, what price should Unique charge?      What is the marginal revenue (MR) at the price computed?      If a competitor develops a substitute for the magnometer and the price elasticity increases to –2.25, what price should Unique charge?

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The following is information for a perfectly price discriminating monopolist. Demand: P = 87 - 0.021Q %3D Marginal cost = 10 + 0.029Q Calculate the producer surplus for the monopolist at their optimal quantity. Answer: 59290

a) What is the per unit cost of the product? b) What are the demand and inverse demand functions? Now assume the local government begins to provide 100 units per week at the market price. c) What is the residual demand left for the monopolist?

The cost function for producing ethanol from municipal waste​ (wastehol) is 1000+10q2 where q is in​ millions/gallons per year. The demand for wastehol is currently perfectly inelastic at 5 million gallons per year. Assume that producers of wastehol are perfectly competitive. California is deciding whether to convert all wastehol producers into a regulated wastehol utility.  If wastehol is a regulated monopoly utility with the cost function​ above, what price would regulators set as the price of ​wastehol? Now assume that the wasteahol market has boomed and demand has grown to 20​ (again million gallons per​ year). Now what is the regulated price of wastehol? You are the wastehol producer and are trying to decide whther to lobby for deregulating the wastehol industry. If wastehol were​ deregulated, if demand remains​ 20, what would the perfectly competitive price be? If you are a wastehol​ customer, you would prefer a deregulated industry if demand were 20? True/False?

A monopoly is operating at a quantity where average total cost is $70, marginal revenue is $50, and the price is $65. If the monopoly's ATC curve is U-shaped and is currently at its minimum level, then to maximize profits, this business should: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a raise quantity produced. b lower quantity produced. not change the quantity produced since it is already maximizing profits. d. shut down.

Unique Creations holds a monopoly position in the production and sale of magnometers. The cost function facing Unique is estimated to be TC $100,000 + 20Q What is the marginal cost (MC) for Unique? $ If the price elasticity of demand for Unique is currently -1.5, what price should Unique charge?S What is the marginal revenue (MR) at the price computed? $ If a competitor develops a substitute for the magnometer and the price elasticity increases to -2.25, what price should Unique charge? S

A firm is originally operating as a single-price monopolist that faces a market demand curve P(Q) = 198 –0 and total cost curve equal to TC (q) = 10, 500 + 32Q, with constant MC equal to MC(Q) = 32 for all units produced. Part (a): How much output does the firm produce and at what price is each unit sold for? Part (b): Calculate the firm's profit. The firm now realizes there are actually two distinct groups of consumers that purchase their product, with the following demand functions: P(q1) = 242 – qı P(q2) = 176 – 92 Their total and marginal cost curves have not changed. If the firm wanted to successfully practice third-degree price discrimination: Part (c): How many units of output would they sell to group 1 and how much will each consumer in group 1 pay? Part (d): How many units of output would they sell to group 2 and how much will each consumer in group 2 pay? Part (e): How much profit is earned by the firm when they practice third-degree price discrimination? Part (f): How much…

The demand curve facing a firm operating under monopoly is given by; P = 170 – 5Q The cost function is given by; TC = 40 + 50Q + 5Q2 Determine the profit maximizing price and quantity

Cindy's demand function for her legal services is given by the equation Q = 5000 - 20P, where Q represents the number of 1-hour sessions per year and P represents the price of each session. Her marginal revenue function is MR = 250 - 0.01Q. Cindys operation has no fixed costs, but she incurs a cost of $500 per session ( going to the clients house). What is Cindys yearly profit?