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' .. - Ao o s nm W BYOB is a monopolist In beer production and istribution in the imaginary economy of Hopsville. Suppose that BYOB cannot price It sells its beer at the same price per can to all customers. The following graph shows the marginal cost (MC), cost (ATC), and demand (D) for beer in this market. criminate; that is, marginal revenue (MR), average total Place the black point (plus symbol) on the graph to indicate the profit-maximizing price and quantity for BYOB. If BYOB is making a profit, use the green rectangle (triangle symbols) to shade in the area representing its profit. On the other hand, if BYOB is suffering a loss, use the purple rectangle (diamond symbols) to shade in the area representing its loss. @ 4.00 350 Monopoly Outcome 3.00 g 250 8 Profit g P 8 200 3 S W 150 Loss 2 1.00 050 0 05 10 15 20 25 30 35 4.0 QUANTITY (Thousands of cans of beer) Suppose that BYOB charges $2.00 per can. Your friend Paolo says that since BYOB is a monopoly $2.25 per can because this w h market power, it should charge a higher price of increase BYOB's profit. Complete the following table to determine whether Paolo is correct. Price Quantity Demanded Total Revenue Total Cost Profit (Dollars per can) (Cans) (Dollars) (Dollars) (Dollars) 2.00 v - 2.25 v v Given the earlier information, Paolo W correct in his assertion that BYOB should charge $2.25 per can. Suppose that a technological Innovation decreases BYOB's costs so that it now faces the marginal cost (MC) and average total cost (ATC) given on the following graph. Specifically, the technological Innovation causes a decrease in average fixed costs, thereby lowering the ATC curve and moving the MC curve. () Aplia. & Chat () Aplia: St @ Steel... = My... Suppose that BYOB charges $2.00 per can. Your friend Paolo says that since BYOB is a monopoly with market power, it should charge a higher price of $2.25 per can because this will increase BYOB's profit. Complete the following table to determine whether Paolo is correct. Price Quantity Demanded Total Revenue Total Cost Profit (Dollars per can) (Cans) (Dollars) (Dollars) (Dollars) 2.00 v v 2.25 v v Given the earlier information, Paolo W correct in his assertion that BYOB should charge $2.25 per can. Suppose that a technological innovation decreases BYOB's costs so that it now faces the marginal cost (MC) and average total cost (A7C) given on the following graph. Specifically, the technological innovation causes a decrease in average fixed costs, thereby lowering the A7C curve and mo: g the MC curve. Place the black point (plus symbol) on the following graph to indicate the profit-maximizing price and quantity for BYOB. If BYOB is making a profit, use the green rectangle (triangle symbols) to shade in the area representing its profit. On the other hand, if BYOB is suffering a loss, use the purple rectangle (diamond symbols) to shade in the area representing the loss. 58' + 350 Monopoly Outcome 3.00 = m 250 3 Profit 2 2 B S 8 150 Loss @ g 100 x 050 [ R 0 05 1005 18 - 20 268 a0 s sERYD) QUANTITY (Thousands of cans of beer) Continue without saving