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(Solved by Expert Tutors) QUESTION 16 -A monopolist faces a demand curve given by P=10-Q


-A monopolist faces a demand curve given by P=10-Q

and has constant marginal (and average cost) of 2. ? What is the economic profit made by this profit-maximising monopolist if they engage in perfect price discrimination?
-32
-64
-100
-121
-None of the above1 points??
QUESTION 17
-A monopolist faces a demand curve given by P=10-Q and has constant marginal (and average cost) of 2. ? What is the economic profit made by this profit-maximising monopolist?
-0
-12
-14
-16
-None of the above
-?1 points??
QUESTION 18
-Consider a monopolist who faces the following demand function: P=10-Q. Which of the following statements is true about the monopolist?s marginal revenue (MR) and average revenue (AR)?
-MR and AR have the same vertical intercept.
-MR has a horizontal intercept that is half that of the horizontal intercept of AR.
-MR has a steeper slope than AR.
-a, b, and c are correct.
-none of the above.1 points??
QUESTION 19
-Consider a single price monopolist that has standard U-shaped cost curves. If the monopolist earns positive economic profit, which of the following statements is true?
-The monopolist sets a price greater than marginal cost.
-The monopolist sets a price greater than average total cost.
-The monopolist chooses level of output where marginal revenue is equal to marginal cost.
-a, b and c are correct.
-none of the above.1 points??
QUESTION 20
-Assume that all firms in a competitive industry have cost curves given by the following: TC = 100 +10q +4q2. In the long run the equilibrium price equals:
-10.
-30.
-50.
-100.
-Additional information about market demand is required to answer this question.

 


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Apr 19, 2020

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