Question: Hello I need help with this Q, please help me, thank you in advance. A singleprice profitmaximizing monopolist is enjoying economic profits. (a) Graph its

Hello I need help with this Q, please help me, thank you in advance.

A singleprice profitmaximizing monopolist is enjoying economic profits. (a) Graph its marginal cost (MC), average total cost (ATC), marginal revenue (MR), and demand curves (D), labeling all. (b) Label its profitmaximizing price (PM) and quantity (QM). (c) What would happen to the firm's total revenue if it produced more than the profitmaximizing quantity? Explain. (d) The firm becomes able to perfectly price discriminate. Label its new profitmaximizing quantity of production 0M2. (e) Shade the entire area(s) of increased firm revenue. (f) Will the change in part (d) cause the monopoly to become allocatively efficient? Explain. (g) The demand curve intersects the yaxis at $100. PM is $20, and QM is 700 units. Calculate the area of lost consumer surplus. (h) The government imposes a $2 perunit tax that results in the new profitmaximizing quantity being 500 units. What will the government's tax revenue be

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Current Attempt in Progress Assume the following information for Kingbird Corp. Accounts receivable (beginning balance) $139,000 Allowance for doubtful accounts (beginning balance) 11,370 Net credit...

Dear Tutor I need also help with graph please drawing it will help me as well thank you. 7. Short-run supply and long-run equilibrium Consider the competitive market for rhodium. Assume that no...

Help me with the following 3. Consider a monopolist with cost function c(y) = cy. with e > 0, facing demand function x(p) = ap-, where c> 0. a. Show that if & $ 1. then the monopolist's optimal price...

Please help answer questions 3-8. Thank you! For example, pharmaceutical companies that hold patents on several pharmaceutical drugs sell their products at prices with relatively high markups. After...

Lessons Assessments Gradebook Email 2 #Tools - Question 3(Multiple Choice Worth 4 points) (03.06 MC) Price Q, Q, Quantity If the price that the business with the production costs above is able to...

Hello please help with this question and provide the right answer. Thank you and have a great day! I already submitted and I got a 16% A single-price profit-maximizing monopolist is enjoying economic...

.Helo kind ly help Question 1 (20 points) Consider the standard Mortensen-Pissarides model in continuous time. Labor force is normalized to 1. Unemployed workers with measure u search for jobs, and...

Please help with the last question, part h onl. . It is a. the bottom. I think uyou may need the information on the other parts to complete part h, hopefully not the graphs though because they would...

Do Homework - Chapter 10 Homework - Google Chrome X "mylab.pearson.com/Student/PlayerHomework.aspx?homeworkld=659493833&questionld=1&flushed=false&cld=7584450¢erwin=yes BUS 505 Multinational...

PLEASE HELP DONT UNDERSTAND!! I don't understand questions A) to H) THIS IS AP MICRO Assessment Option A single-price profit-maximizing monopolist is enjoying economic profits, (a) Graph its marginal...

price discrimination and elimination. this problem has a few steps but is one problem. Wake Tech Services Din Bb Take Test: 4 of 6: P&P A Bb Lesson Eleven 3/23 to : MindTap - Cengage X C 4. Profit...

To prove Theorem 6.10, show that if X and Y have a bivariate normal distribution, then (a) Their independence implies that = 0; (b) = 0 implies that they are independent. Theorem 6.10 If two random...

An original productivity-depth of damage zone ralationship for a sandstone well is given in the Figure. Original 100 Productivity, % k/k-0.6 80 60 40 k/k0.1 20 5 10 15 20 25 30 Depth of Damage Zone,...

Use excel to find answer The CME Term Secured Overnight Financing Rates ( SOFR ) per annum with continuous compounding and SOFR swap rates per annum for annual pay swaps ( continuous compounding ) on...

Denominator-level choices, changes in inventory levels, effect on operating income. Koshu Corporation is a manufacturer of computer accessories. It uses absorption costing based on standard costs and...

Towerton Financial Services13 Towerton Financial Services, a brokerage firm, started with a focus on stock trading and mutual funds. As the business grew, Towerton diversified into two new product...

Michelle Dawan recently opened her own basketweaving studio. She sells finished baskets in addition to the raw materials needed by customers to weave baskets of their own. Michelle has put together a...

Recording Transactions (Including Adjusting and Closing Entries), Preparing a Complete Set of Financial Statements, and Performing Ratio Analysis Josh and Kelly McKay began operations of their...

Consider a wave packet with a Gaussian amplitude distribution A (k) = B exp [ σ (k k0)2] where 2/√σ is equal to the 1/e width* of the packet. Using this function for A (k), show...

Question 1. What is the total annual cost of maintaining the components inventory under the present system? IF POSSIBLE BREAK DOWN THE COSTS YOU USED TO COME WITH THE FINAL ANSWER Case 2 Just-in-Time...

=+work done, to find a quicker and possibly more efficient way to select employees?

=+ Which is the greater good, to obey the spirit and letter of the law or to achieve

=+ Is it wrong for public administrators, who say they are just trying to get the