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ECON-1010-D1/D2-Introduction to Microeconomics
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Use the figure below to answer the following questions.
Figure 12.5.2
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If a monopolist can find buyers for 4 units at a price of $7, and if the marginal revenue due to the 5th unit is $2, the highest price at which the monopolist can find buyers for 5 units must be
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Use the figure below to answer the following questions.
Figure 12.4.2
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Consider the following: The profit-maximizing price charged for goods produced is $20. The intersection of the marginal-revenue and marginal-cost curves occurs where output is 12 units and marginal cost is $9. Average total cost for 12 units of output is $7. What is the monopolist’s profit under these conditions?
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Use the figure below to answer the following questions.
Figure 12.3.2
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If a monopolist can find buyers for 23 units at a price of $800, and if the marginal revenue due to the 24th unit is $560, the highest price at which the monopolist can find buyers for 24 units must be:
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Use the figure below to answer the following questions.
Figure 12.2.2
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A monopolist faces market demand given by P = 80 – Q. For this market MC = 20. What quantity of output will the monopolist produce in order to maximize profits?
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A monopolistic firm faces a downward-sloping demand curve because
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Which of the following is true for a perfect price-discriminating monopoly?
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