Given the following table for a monopolist, what is the profit maximizing level of output? Quantity Marginal Revenue Marginal Cost 21 65 40 22 60 30 23 55 20 24 50 25 25 45 30 26 40 40 27 35 50 28 30 65 29 25 80
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Given the following table for a monopolist, what is the profit maximizing level of output?
| Quantity | Marginal Revenue | Marginal Cost |
| 21 | 65 | 40 |
| 22 | 60 | 30 |
| 23 | 55 | 20 |
| 24 | 50 | 25 |
| 25 | 45 | 30 |
| 26 | 40 | 40 |
| 27 | 35 | 50 |
| 28 | 30 | 65 |
| 29 | 25 | 80 |
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- The table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the table. Assume that output can only be sold in integer amounts (i.e., 11 unit, 22 units, etc.). Once you have filled in marginal revenue, identify the quantity produced by the monopolist in this market. Quantity Price Marginal Marginal Cost Revenue 1 $13 $3 MR1 2 $12 $4 MR2 3 $11 $5 MR3 4 $10 $6 MR4 $9 $7 MR5 6. $8 $8 MR6 How many units does the monopolist produce? Quantity:The table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the table Assume that output can only be sold in integer amounts (i.e., 1 unit, 2 units, etc.). Once you have filled in marginal revenue identify the quantity produced by the monopolist in this market Not all numbers in the answer bank will be used. Quantity Price Marginal revenue Marginal cost Answer Bank 1 $13 2 $2 $12 $6 $8 $4 $13 $11 $3 $10 $9 $7 $5 4 $10 $4 $3 $2 $12 $5 $9 6 $8 $6 How many units does the monopolist produce? unitsThe table below shows a monopolist's demand curve and the cost information for the production of its good. If the monopolist is trying to maximize its profit what would it be? Quantity Price per Unit Total Cost 10 $100 $100 20 $80 $400 30 $60 $800 40 $40 $1,400 50 $20 $2,400 Question 40 options: a) $1,200 b) $1,000 c) $1,600 d) $1, 800
- Question 5: Jimmy has a room that overlooks, from some distance, a major league baseball stadium. He decides to rent a telescope for $50 a week and charge his friends and classmates to use it to peep at the game for 30 seconds. He can act as a monopolist for renting out "peeps". For each person who takes a 30 second peep, it costs Jimmy $.20 to clean the eyepiece. Jimmy believes he has the following demand for his service: Price of a Peep $1.20 Quantity of peeps demanded 1.00 90 100 150 200 250 300 70 60 50 350 40 30 400 450 20 10 500 550 a) For each price, calculate the total revenue from selling peeps and themarginal revenue per peep. Price Quantity TR MR $1.20 100 90 100 150 200 70 250 60 300 350 50 40 30 400 450 20 500 10 550 b) At what quantity will Jimmy's profit be maximized? What price will he charge? What will his total profit be? c) Jimmy's landlady complains about all the visitors coming into the building and tells Jimmy to stop selling peeps. Jimmy discovers, though, if he…The following graph shows the demand, marginal revenue, and marginal cost curves for a single-price monopolist that produces a drug that helps releve arthritis pain. Place the grey point (star symbol) in the appropriate location on the graph to Indicate the monopoly outcome such that the dashed lines reveal the profit-maximizing price and quantity of a single-price monopolst. Then, use the green rectangle (triangle symbols) to show the profits earned by the monopolist. 10 Manapaly Outcome Manapaly Profits 4 MC = ATC 1. MR Damand 3 4 QUANTITY (Millians of dasas par yaar) 5 6 10 1 2 6 8 Suppose that should the patent on this particular drug explre, the market would become perfectly competitive, with new firms Immedlately enterling the market with essentially Identical products. Further suppose that In this case the original firm will hire lobbylsts and make donations to several key politicians to extend Its patent for one more year. The firm Is prepared to spend up to $ million to extend…The table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the table. Assume that output can only be sold in integer amounts (i.e., 1 unit, 2 units, etc.). Once you have filled in marginal revenue, identify the quantity produced by the monopolist in this market. Not all numbers in the answer bank will be used. Quantity Price Marginal cost Marginal revenue 1 $13 $3 $13 Answer Bank 2 $12 $4 $6 $8 $4 3 $11 $5 $9 $1 $2 $11 $5 4 $10 $6 $9 $7 $3 $10 $0 $12 $7 $8 $8 How many units does the monopolist produce? units
- Consider the following table with a monopolist's cost and revenue data and answer the questions below, and answer these three questions:A) Determine the profit-maximizing (or loss-minimizing) quantity and price for the above monopolist.B) Calculate the profit (or loss) for the profit-maximizing quantity.C) Calculate the average profit (or loss) for the profit-maximizing quantity. Show/explain all of your work. Quantity Produced Price Total Revenue Total Cost Marginal Cost 0 16 0 60 - 5 15 75 120 12 10 14 140 170 10 15 13 195 215 9 20 12 240 250 7 25 11 275 280 6 30 10 300 310 6 35 9 315 360 10 40 8 320 430 14 45 7 315 530 20The table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the table. Assume that output can only be sold in integer amounts (i.e., 1 unit, 2 units, etc.). Once you have filled in marginal revenue, identify the quantity produced by the monopolist in this market. Not all numbers in the answer bank will be used. Quantity Price Marginal cost Marginal revenue 1 $13 $1 Answer Bank $12 $2 $3 $6 $1 $5 $10 3 $11 $3 $0 $7 $8 $9 $12 4 $10 $4 $13 $11 $2 $4 5 $9 $5 6. $8 $6 %24The table below shows a monopolist’s demand curve and cost information for the production of its good. What quantity will it produce? Quantity Price per Unit Total Cost 1,000 $5.00 $1,000 1,100 $4.50 $1,100 1,300 $2.50 $1,150 1,400 $2.00 $1,200 Question 6 options: $1,400 $1,300 $1,100 $1,000
- 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. Place the grey point (star symbol) in the appropriate location on the graph to indicate the monopoly outcome such that the dashed lines reveal the profit-maximizing price and quantity of a single-price monopolist. Then, use the green rectangle (triangle symbols) to show the profits earned by the monopolist. PRICE (Dollars per dose) 0 19 1 MC ATC MR 2 3 7 5 4 5 6 QUANTITY (Millions of doses per year) Demand 9 10 [x| Monopoly Outcome Monopoly Profits Suppose that should the patent on this particular drug expire, the market would become perfectly competitive, with new firms immediately entering the market with essentially identical products. Further suppose that in this case the original firm will hire lobbyists and make donations to several key politicians to extend its patent for one more year. The firm is prepared to…The table below shows price and quantity demanded for a market in which there is a single (monopoly) firm, as well as marginal cost. Use the information in the table to find the monopolist's optimal price and quantity. Price $100 $90 $80 $70 $60 $50 $40 $30 $20 $10 Quantity 0 1 2 3 4 5 6 7 8 9 Marginal Cost The monopolist will charge a price of $ 7 15 24 30 42 56 62 75 97 and produce a quantity of [ units.What are ways in which a monopolist can engage in price discrimination?
