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

Differentiate value management and value engineering, Describe the differen...

Describe the difference between value management and value engineering. Value Engineering: It is concerned all along with determining the cheapest method of accomplishing

Assignment, #question.During the 1990s, technological advance reduced the c...

#question.During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in t

Dynamic Multiplier, #what questDynamic Multiplier, Economicsion..

#what questDynamic Multiplier, Economicsion..

What are the problems of environment in economic growth, What are the probl...

What are the problems of Environment in Economic Growth? Environment Problem: Economic growth can damage the environment by: • Negative externalities as an example waste thr

What is culture and human capital, What is culture and human capital? ...

What is culture and human capital? Human capital is the knowledge, experience and skills of employees and can be raised by investing into education, job training and health

Monetary transmission mechanism, QUESTION 1 Critically examine alternat...

QUESTION 1 Critically examine alternative theories of money demand and specify a demand for money equation for Mauritius. QUESTION 2 Discuss the macroeconomic and micro

Inflation economics, Hoe to reduce above mentioned issue.

Hoe to reduce above mentioned issue.

Cost of production of a firm in the long run, Question 1: (a) Explain,...

Question 1: (a) Explain, giving examples, the law of diminishing returns, clearly bringing out the relationship between cost curves and product curves in the short run. (

Marginal Analysis, A clinic uses doctors and nurses optimally and is servic...

A clinic uses doctors and nurses optimally and is servicing the maximum number of patients given a limited annual payroll. The last doctor hired treated 1,600 extra patients in a

Wheeled coach, What is an alternative process strategy to the assembly line...

What is an alternative process strategy to the assembly line that Wheeled Coach currently uses?

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages