Description of this paper

economics-Consider a monopolist facing a demand curve




Question;Consider a monopolist facing a demand curve P=120-Q. Its total cost function is C(Q)=30Q. Calculate the price the monopolist will charge.Question 8 options:A) 50B) 75C) 45D) 50A monopolist can produce at a constant average (and marginal) cost of AC = MC = $5. It faces a market demand curve given by Q = 53 ? P. Caculate its profitQuestion 9 options:A) 576B) 200C) 1,200D) 364Suppose a second firm enters the market. Let Q1 be the output of the first firm and Q2 be the output of the second. Market demand is now given byQ1 + Q2 = 53 ? P.The profit of each firm in a Cournot equilibrium would beQuestion 10 options:A) 256B) 512C) 128D) 26


Paper#57375 | Written in 18-Jul-2015

Price : $22