Question

Marginal cost/ supply curve: P = 150 + 10(Q) Marginal value/ Demand curve: P =800 -...

Marginal cost/ supply curve: P = 150 + 10(Q)
Marginal value/ Demand curve: P =800 - 15(Q)

1. Calculate the price and quantity using the formulas above assuming perfect competiton.

2. Calculate the price and quantity using the formulas above assuming a monopoly.

3. Calculate the price and quantity using the formulas above assuming a monopsony.
Science   Advanced-Physics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Assume a market where the demand curve is p = 10 - q and the supply...
Assume a market where the demand curve is p = 10 - q and the supply curve is P = Q. The government sets a price floor where the price is 3. How does price regulation affect the quantity sold
1Suppose the firm is a monopolist. It faces a downward-sloping demand curve, P(Q). If it also...
1Suppose the firm is a monopolist. It faces a downward-sloping demand curve, P(Q). If it also has non-negative marginal cost, will it choose a quantity on the demand curve where the price elasticity of demand is less than, greater than, or equal to -1? Explain. 2. Now, consider what will happen if a firm has exactly one competitor in the market. Both firms have identical technologies and cost structures (assuming a constant marginal cost may be helpful), and each chooses...
A monopoly has an inverse demand curve given by: p=28-Q And a constant marginal cost of...
A monopoly has an inverse demand curve given by: p=28-Q And a constant marginal cost of $4. Calculate deadweight loss if the monopoly charges the profit-maximizing price. Round the number to two decimal places.
A market has a demand curve given by P = 800 – 10Q where P =...
A market has a demand curve given by P = 800 – 10Q where P = the price per unit and Q = the number of units. The supply curve is given by P =100 + 10Q.(10 points) Graph the demand and supply curves and calculate the equilibrium price and quantity in this market.(5 points) Calculate the consumer surplus at equilibrium.(5 points) Calculate the producer surplus at equilibrium.(5 points)(5 points) Calculate the total surplus at equilibrium
1) The inverse demand curve a monopoly faces is p=110−2Q. The​ firm's cost curve is C(Q)=30+6Q....
1) The inverse demand curve a monopoly faces is p=110−2Q. The​ firm's cost curve is C(Q)=30+6Q. What is the​ profit-maximizing solution? 2) The inverse demand curve a monopoly faces is p=10Q-1/2 The​ firm's cost curve is C(Q)=5Q. What is the​ profit-maximizing solution? 3) Suppose that the inverse demand function for a​ monopolist's product is p = 7 - Q/20 Its cost function is C = 8 + 14Q - 4Q2 + 2Q3/3 Marginal revenue equals marginal cost when output equals...
2Q Consider a closed economy. Let the demand curve be P = 80 - Q and...
2Q Consider a closed economy. Let the demand curve be P = 80 - Q and the supply curve be P = 20 + 2Q . a) Calculate the equilibrium price and equilibrium quantity. b) Suppose the government sets a price ceiling of $55, what is the amount of excess demand or excess supply? (Write down excess demand or excess supply). c) Suppose the government sets a production quota of 16 units, calculate the equilibrium price and equilibrium quantity. 2....
The following equations describe the monopolist’s demand, marginal revenue, total cost and marginal cost: Demand: Qd...
The following equations describe the monopolist’s demand, marginal revenue, total cost and marginal cost: Demand: Qd = 12 – 0.25P | Marginal Revenue: MR = 48 – 8Q | Total Cost: TC = 2Q^2 | Marginal Cost: MC = 4Q Where Q is quantity and P is the price measured in dollars. a) What is the profit maximizing monopoly’s quantity and price? b) At that point, calculate the price elasticity of demand. What does the value imply? c) Does this...
assume that a monopolist faces a demand curve Q =200 - 10P, and marginal cost of...
assume that a monopolist faces a demand curve Q =200 - 10P, and marginal cost of $15. Compared with the perfectly competitive market's price, assuming the same demand function and costs hold true, what is the Monopolist's mark up? What is the deadweight loss from Monopoly pricing
Given a demand curve of P = 77 - Q and a supply curve of P...
Given a demand curve of P = 77 - Q and a supply curve of P = 1 + Q, with a subsidy of 24, solve for the resulting quantity.
The demand for milk is P = 150 - 2Q the supply curve is P =...
The demand for milk is P = 150 - 2Q the supply curve is P = 4Q. What is the level of consumer surplus at the equilibrium price and quantity?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT