53 A monopolist faces the inverse demand function described by p 50 4 q , where q is output The monopolist has no fixed cost and his marginal cost is $5 at all levels of output Which of the following expresses the monopolist's profits as a function of his output a 50 4 q 5 b 50 8 q c 45 q 4 q 2 d 50 q 4 q 2 5 e None of the above 55 The demand for a monopolist's output is 6,000 ( p 7) 2 , where p is its price It has constant marginal costs equal to $5 per unit What price will it charge to maximize its profits a $33 b $12 c $26 d $17 e $5 57 A profit maximizing monopolist faces a downward sloping demand curve that has a constant elasticity of 3 The firm finds it optimal to charge a price of $12 for its output What is its marginal cost at this level of output a $5 b $25 c $24 d $8 e $12 59 A monopolist has the total cost function c ( q ) 800 8 q The inverse demand function is 80 6 q , where prices and costs are measured in dollars If the firm is required by law to meet demand at a price equal to its marginal costs, a thefirm's profits will be zero b thefirm will lose $400 c thefirm will make positive profit but not as much profit as it would make if it were allowed to choose its own price d thefirm will lose $800 e thefirm will lose $480 61 In Problem 1, if demand in the United States is given by Q 1 7,200 300 p 1 , where p 1 is the price in the United States, and if the demand in England is given by 3,600 200 p 2 , where p 2 is the price in England, then the difference between the price charged in England and the price charged in the United States will be a $3 b $6 c $0 d $13 e $9 65 A monopolist has a constant marginal cost of $2 per unit and no fixed costs He faces separate markets in the United States and England He can set one price p 1 for the U S market and another price p 2 for the English market If demand in the United States is given by Q 1 6,000 600p 1 and demand in England is given by Q 2 2,400 400 p 2 , then the price in the United States will a belarger than the price in England by $2 b besmaller than the price in England by $2 c equalthe price in England d belarger than the price in England by $4 e besmaller than the price in England by $4

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53.A monopolist faces the inverse demand function described by p =50-4 q , where q is output. The monopolist has no fixed cost and his

53.A monopolist faces the inverse demand function described byp=50-4q, whereqis output. The monopolist has no fixed cost and his marginal cost is $5 at all levels of output. Which of the following expresses the monopolist's profits as a function of his output?

a.	50-4q-5
b.	50-8q
c.	45q-4q²
d.	50q-4q²-5
e.	None of the above.

____55.The demand for a monopolist's output is 6,000/(p+7)², wherepis its price. It has constant marginal costs equal to $5 per unit. What price will it charge to maximize its profits?

a.	$33
b.	$12
c.	$26
d.	$17
e.	$5

____57.A profit-maximizing monopolist faces a downward-sloping demand curve that has a constant elasticity of-3. The firm finds it optimal to charge a price of $12 for its output. What is its marginal cost at this level of output?

a.	$5
b.	$25
c.	$24
d.	$8
e.	$12

59.A monopolist has the total cost functionc(q)=800+8q. The inverse demand function is 80-6q, where prices and costs are measured in dollars. If the firm is required by law to meet demand at a price equal to its marginal costs,

a.	thefirm's profits will be zero.
b.	thefirm will lose $400.
c.	thefirm will make positive profit but not as much profit as it would make if it were allowed to choose its own price.
d.	thefirm will lose $800.
e.	thefirm will lose $480.

____61.In Problem 1, if demand in the United States is given byQ₁=7,200-300p₁, where p₁is the price in the United States, and if the demand in England is given by 3,600-200p₂, wherep₂is the price in England, then the difference between the price charged in England and the price charged in the United States will be

a.	$3.
b.	$6.
c.	$0.
d.	$13.
e.	$9.

____65.A monopolist has a constant marginal cost of $2 per unit and no fixed costs. He faces separate markets in the United States and England. He can set one pricep₁for the U.S. market and another pricep₂for the English market. If demand in the United States is given byQ₁=6,000-600p₁and demand in England is given byQ₂=2,400-400p₂, then the price in the United States will

a.	belarger than the price in England by $2.
b.	besmaller than the price in England by $2.
c.	equalthe price in England.
d.	belarger than the price in England by $4.
e.	besmaller than the price in England by $4.