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

Export, Procedure for export under deferred paymet

Procedure for export under deferred paymet

Franchise, How can franchises ensure their products are appropriate for int...

How can franchises ensure their products are appropriate for international markets?

Optimal Pricing for an Aggregate Demand Curve., Suppose you have ten indivi...

Suppose you have ten individuals with values ( $1, $2, $3, $4, $5, $6, $7, $8, $9, $10) . Your marginal cost of production is $2.50. What is the profit maximizing price?

Quantity of salt demanded, why does the quantity of salt demanded tend to b...

why does the quantity of salt demanded tend to be unresponsive to changes in its price?

Change in currency rate, Change in Currency Rate Change in the sterlin...

Change in Currency Rate Change in the sterling currency rate has also great consequences because it depends upon the sterling currency rate to the other countries as well. As

Explain the implications international capital flows problem, Explain the i...

Explain the implications international capital flows problem. Implications: • FDI can assist physical capital accumulation and result within growth - usually beneficial b

Acknowledge & report for the market for education, Task You work for a...

Task You work for a government of a European country that is considering making admission to museums of your country free to make them available to everybody. You have deci

Compute the lp valuation, Consider another company, Lateco, which has just ...

Consider another company, Lateco, which has just received its fifth round of investment.  These rounds have been: Series A: CP ($5M FV) or converts to 5M shares of common. Se

Methods of calculating national income, QUESTION (a) Explain the 3 meth...

QUESTION (a) Explain the 3 methods of calculating National Income? (b) Why do all countries in the world calculate their National Income every year, despite all the difficul

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