Determine the monopoly price and monopoly quantity, Business Economics

Assignment Help:

1. A monopolist faces the industry demand Q=400-0.5 p and has constant marginal costs of 8, with no fixed costs.

a) What is the monopoly price? What is the monopoly quantity?

b) Without solving mathematically, just using economic theory based on the solution in a), if price drops such that quantity increases from the one in a), by one very small amount, would total revenue be higher?


Related Discussions:- Determine the monopoly price and monopoly quantity

Define how quality control can be applied to a subcontractor, Define how qu...

Define how quality control can be applied to a subcontractor’s work. Quality control of a subcontractor’s work begins along with a clear, detailed and precise requirement of th

Find the efficient allocation of consumption, There are two agents, A and B...

There are two agents, A and B. Both have preferences represented by a von Neumann-Morgenstern utility function u(c s j ) = ln (c s j ), where c s j is consumption of agent j in

What is the effectiveness of non-government organisations, What is the effe...

What is the effectiveness of Non-Government Organisations, within the promotion of development? Critics argue NGOs (Non-Government Organisations): • Are self-serving and se

Privitization, why do companies privitise? what is the objectives of privit...

why do companies privitise? what is the objectives of privitisation? what are the advantages and disadvantages of privitisation?

Producing the standard level products, Provisionally the new software is ca...

Provisionally the new software is called SafeCus with two projected levels of service - Premier and Standard. The Premier Level could be on sale within a year and will provide b

Define hierarchy of project management method, The project management metho...

The project management method envisages a hierarchy of plans. Define this hierarchy. At the top level, there would be a Project Plan which covers the major aspects of the proje

What is foreign debt management, What is Foreign Debt Management? Debt...

What is Foreign Debt Management? Debt management considers as to the arrangements made to: • Protected the suitable amount of borrowing to deliver growth • Ignore excess

Samantha Hill, Problem-solving question: Use the following data for a firm’...

Problem-solving question: Use the following data for a firm’s output at various levels of employment (L) to calculate: a) its marginal physical product of labor (MPPL) schedule; (

What are the restrictions of dependency theory, What are the restrictions o...

What are the restrictions of dependency theory? The restrictions of dependency theory: • Self sufficiency and import-substitution strategy mean the advantages of Internatio

Statistics, difference b/w statistics in singular and plural sense

difference b/w statistics in singular and plural sense

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd