5:37PM Sun Apr 28 \"se d. Perfectly inelastic demand curve O ) Clear my choice & ' Bliostion & No't yet answered Points out of 1.00 j You observe a monopolist with the following characteristics. Marginal revenue equals marginal cost at 20 units and $10. At 20 units, the average revenue is $15. The average revenue curve intersects the marginal cost curve at 30 units and $12. How much more is produced under the socially optimal market structure compared to the monopoly market structure? (Hint: draw the graph) Answer: Answer Not yet answered Question 9 . Points out of 1.00 In the monopolistically competitive market for sweaters, marginal revenue equals marginal cost at $75 and 125 units. At 125 units, average revenue is $150. Average revenue equals marginal cost at 200 units and $90. What is the socially optimal quantity? Answer: Answer Q ion 10 Not yet answered uestion - Points out of 1.00 The monopolist faces a demand curve for its products. Therefore, it must prices to sell more output and will produce only on the part of the demand curve. Answer 5. downward sloping; reduce; elastic O p, Perfectly elastic; not change; profit-maximizing O , downward sloping; reduce; inelastic O 4. Perfectly elastic; not change; horizontal O | Clear my choice k) Previous