A monopolist has two sets of consumers, call them group 1 and group 2. Group 1's...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A monopolist has two sets of consumers, call them group 1 and group 2. Group 1's demand for the product is given by P(Q)= 180-Q, while that of group 2 is given by Q(P) = 84-0.6667P Group1 is described by an Inverse demand function while Group 2 is described by an demand function Suppose the two markets are treated as one, the monopolist's total quantity demanded at price 100.8 is that price is and the monopolist's total quantity demanded at price 143 is Suppose farther that the monopolist has a constant marginal cost of 28 What is the monopolist's profit-maximizing price if both groups were charged the same price Oonly consumers in Group 1 OConsumers in both Group 1 and Group 2 What is the monopolist's profit-maximizing quantity if both groups were charged the same price What are the monopolist's profits if both groups were charged the same price what is the quantity supplied and demanded to Group 1 what is the quantity supplied and demanded to Group 2 Now suppose the monopolist can price discriminate What is the price charged for Group 1 What are the profits from Group 1 What is the price charged for group 2 What are the profits from Group 2 ▸ Please answer all parts of the question. and the marginal revenue at that price is + , and the marginal revenue at and the monopolist will serve Oonly consumers in Group 2 A monopolist has two sets of consumers, call them group 1 and group 2. Group 1's demand for the product is given by P(Q)= 180-Q, while that of group 2 is given by Q(P) = 84-0.6667P Group1 is described by an Inverse demand function while Group 2 is described by an demand function Suppose the two markets are treated as one, the monopolist's total quantity demanded at price 100.8 is that price is and the monopolist's total quantity demanded at price 143 is Suppose farther that the monopolist has a constant marginal cost of 28 What is the monopolist's profit-maximizing price if both groups were charged the same price Oonly consumers in Group 1 OConsumers in both Group 1 and Group 2 What is the monopolist's profit-maximizing quantity if both groups were charged the same price What are the monopolist's profits if both groups were charged the same price what is the quantity supplied and demanded to Group 1 what is the quantity supplied and demanded to Group 2 Now suppose the monopolist can price discriminate What is the price charged for Group 1 What are the profits from Group 1 What is the price charged for group 2 What are the profits from Group 2 ▸ Please answer all parts of the question. and the marginal revenue at that price is + , and the marginal revenue at and the monopolist will serve Oonly consumers in Group 2
Expert Answer:
Answer rating: 100% (QA)
1 The monopolists total quantity demanded at price 1008 is 164 units To find this we substitute the price 1008 into the demand function PQ 180 Q and solve for Q 1008 180 Q which gives us Q 180 1008 79... View the full answer
Posted Date:
Students also viewed these economics questions
-
Suppose the weekly demand for a product is given by p + 2q = 840 and the weekly supply before taxation is given by p = 0.02q2 + 0.55q + 7.4. Find the tax per item that produces maximum tax revenue....
-
Suppose that individual demand for a product is given by QD = 1000 - 5P. Marginal revenue is MR = 200 - 0.4Q, and marginal cost is constant at $20. There are no fixed costs. a. The firm is...
-
Suppose that the demand for a product is given by pq + p = 5000. (a) Find the elasticity when p = $50 and q = 99. (b) Tell what type of elasticity this is: unitary, elastic, or inelastic. (c) How...
-
When researchers find a reasonably complete fossil of a dinosaur, they can determine the mass and weight of the living dinosaur with a scale model sculpted from plastic and based on the dimensions of...
-
During 2014, Gattis Company completed the following transactions: Jan. 1 Traded in old office equipment with book value of $ 60,000 (cost of $ 140,000 and accumulated depreciation of $ 80,000) for...
-
The truss is fabricated using uniform members having a mass of 5kg/m. Remove the external forces from the truss, and determine the force in each member due to the weight of the truss. State whether...
-
Show how Figure 14-8 could be modified to use a temperature swing instead of a pressure swing. What might be advantages and disadvantages of doing this? Solid Bed PH Turbo- expander PL SCF Compressor...
-
After Susan Wong graduated from State University with a degree in management science, she went to work for a computer systems development firm in the Washington, DC, area. As a student at State,...
-
1: Understanding Your Values Due week 3 and worth 100 points. If you're going to build a great career, you had better have a strong foundation. It all comes back to the priorities and the values that...
-
XYZ is a calendar-year corporation that began business on January 1, 2018. For the year, it reported the following information in its current-year audited income statement. Notes with important tax...
-
Solve 3 -1 4 (2) -2 2 2 3 1 1, 3. 2. 1.
-
Only a few jurisdictions in the U.S. have dedicated art crime investigators or prosecutors. Why do you think this is true? Do you think it is because there are more important criminal justice issues;...
-
After owning Time Warner for a few years, AT&T isconsidering selling it and concentrate on providing telecomservices, which was its core business before acquiring Time Warner.AT&T beta before buying...
-
As the bookkeeper of Patrick's Plowing, you have been asked to complete portions of the accounting cycle for Patrick. View the adjusted trial balance through balance sheet columns of Patrick's...
-
A farmer was told by the municipality to enclose a field by a river to keep his animals out of the water. He decides to enclose a rectangular field as show below. The fence on the river side cost $24...
-
Make sense of the accompanying Java watchwords. For each compose sentence giving an outline of what's going on with the word, then either compose second sentence that shows how it finds a place with...
-
Consider the four bar suspension linkage shown in the figure. Use the given dimensions from the table > below to write the position vector rBE describing the lowest link and the position vector rGH...
-
A red card is illuminated by red light. What color will the card appear? What if its illuminated by blue light?
-
Time is usually critical in supply elasticities because it is _________ costly for sellers to bring forth and release products in a shorter period of time.
-
The relative _________ determines the distribution of the tax burden for a good.
-
Why do people specialize?
Study smarter with the SolutionInn App