7. An internet industry in Edmonton has the following characteristics: C = 200+4Q MC = 8Q...
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7. An internet industry in Edmonton has the following characteristics: C = 200+4Q MC = 8Q P= 180-4Q MR = 180-8Q (each firm's total cost function) (firm's marginal cost function) (industry demand curve) (industry marginal revenue curve) (a) Suppose there is only one firm providing the whole city with cable services. Find the monopoly price, quantity, and level of profit. ECON 357v2 Assignment 2A October 2018 (b) Suppose this industry is operating in a competitive market. Find the price, quantity, and level of profit. 8. Given the following cost function facing Company XYZ: TC = 40 + 4q + 5q + 2q Calculate the values of each of the costs, below, if q = 20. (a) FC (b) VC (c) TC (d) AFC (e) AVC (f) ATC (g) MC 7. An internet industry in Edmonton has the following characteristics: C = 200+4Q MC = 8Q P= 180-4Q MR = 180-8Q (each firm's total cost function) (firm's marginal cost function) (industry demand curve) (industry marginal revenue curve) (a) Suppose there is only one firm providing the whole city with cable services. Find the monopoly price, quantity, and level of profit. ECON 357v2 Assignment 2A October 2018 (b) Suppose this industry is operating in a competitive market. Find the price, quantity, and level of profit. 8. Given the following cost function facing Company XYZ: TC = 40 + 4q + 5q + 2q Calculate the values of each of the costs, below, if q = 20. (a) FC (b) VC (c) TC (d) AFC (e) AVC (f) ATC (g) MC
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a Monopoly scenario 1 To find the monopoly price and quantity we equate marginal cost MC to marginal ... View the full answer
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