Question: please answer Question 3 1 pts A monopolist has a constant marginal cost of $30 per unit of output, and the price elasticity of demand

please answer Question 3 1 pts A monopolist has a constant

please answer

Question 3 1 pts A monopolist has a constant marginal cost of $30 per unit of output, and the price elasticity of demand is -3. What is the firm's profit-maximizing price? 25 20 45 10

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!

The three blood banks in Franklin County are coordinated through a central office that facilitates blood delivery to four hospitals in the region. The cost to ship a standard container of blood from...

53.A monopolist faces the inverse demand function described by p =50-4 q , where q is output. The monopolist has no fixed cost and his marginal cost is $5 at all levels of output. Which of the...

1. A monopolist firm faces a demand with constant elasticity of -4.0. It has a constant marginal cost of $30 per unit and sets a price to maximize profit. If marginal cost increases by 10 percent,...

12.13. A monopolist faces two market segments. In each market segment, the demand curve is of the constant elasticity form. In market segment 1, the price elasticity of demand is "3, while in market...

A monopolist faces two market segments. In each market segment, the demand curve is of the constant elasticity form. In market segment 1, the price elasticity of demand is -3, while in market segment...

(a) A monopolist has discovered that the inverse demand function of a person with income Y for the monopolist's product is P = 0.002Y-Q where P is the price, Y the income, and Q is the output. The...

Suppose that a monopolist faces the following inverse demand curve for its product: p = 50 - 2q where p is the price of the product and q is the quantity of the product. The monopolist incurs a...

Problem 2: MDI'le-Ol'f and Price Discrimination [13 points] Suppose here that a monopolist has a constant Marginal Cost of $10 per unit. The monopolist has no fixed costs. This monopolist is also the...

Problem 2: Monopoly and Price Discrimination [13 points] Suppose here that a monopolist has a constant Marginal Cost of $10 per unit. The monopolist has no fixed costs. This monopolist is also the...

Suppose here that a monopolist has a constant Marginal Cost of $10 per unit. The monopolist has no fixed costs. This monopolist is also the monopolist over two separate groups of consumers [ii Young...

6. Consider a monopolist facing a demand curve from an individual consumer of P = 120 q, where P is per-unit price and q is the quantity demanded. The monopolist has a fixed cost of $100 and a...

In the North American automotive markets, Toyota and Honda are two of the big the following financial information (all numbers in millions of dollars) for each was reported to its shareholders: Total...

18. If you're to solve a numerical, what would be your approach? Ans : O Write a direct answer Show step by step calculations OLook at the marking criteria and answer the questions accordingly O both...

The TPS collects data and typically q , in batches; historically continuously; historically in batches; in real time continuously; in real time

In quadrilateral ABCD. AB produced is perpendicular to DC produced. If angle A- 44 degree and angle C= 148 degree. calculate angle D and B.

3. Create the following matrix using one MATLAB line of code and the reshape command. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41...

Nile Products is a conglomerate with subsidiaries in extractive oil and gas, consumer products, banking and insurance. The company was organized in 1902 and began operations as a mining company. It...

A monopolist has two sets of customers. The inverse demand for Group 1 is described by P1=200Q1P1=200Q1 . For Group 2, the inverse demand is P2=100Q2P2=100Q2 . The monopolist faces constant marginal...

Estimate the market risk for a hypothetical holding of 1,000 NAB shares, held on August 3, 2020 (you are working out the risk position assuming that you own these shares at the open of trading that...

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

2. In this chapter, the reader should reflect on the following concepts: Basic values, basic interests, position, socialization process, mental variables and norm distribution.

6. List examples from your local environment of people that have a so-called Protestant character. Add further characteristics to this phenomenon than those mentioned in this chapter.

10. Choose someone you know and answer the following questions: a) Does this person have a low or high level of competence in a particular field? b) Do you have a low or high level of confidence in...