Hello, can someone please help me with economics.
8. Bubba Golf, a manufacturer of golf clubs, can sell 3 drivers at $600 each. To sell 4 drivers, Bubba Golf must lower the price to $580 each. What is the marginal revenue of the fourth club? 9. At the profit-maximizing quantity, the firm's marginal cost is $40 and it charges a price of $60. What is the price elasticity of demand at the profit-maximizing quantity? 10. The inverse demand curve for a monopolist changes from P = 100-20 to P = 120-2Q. while the marginal cost of production remains unchanged at a constant $20. After the change in the demand curve, the profit-maximizing price rises from ..... ... to .... and the profit-maximizing output rises from 11. Market conditions change for a monopolist with an original marginal cost of MC = 5 + 10Q. The inverse demand curve rotates from P = 40-5Q to P = 47-2Q. What happens to the profit-maximizing price following the rotation of the demand curve? 12. What are the levels of producer surplus under monopoly and perfect competition? Price (S) 100- 90 80 hmmmm mmm mmm mmm MC MR D 0 10 20 30 40 50 Quantity 13. In market A, a firm with market power faces an inverse demand curve of P = 10-Q and a marginal cost that is constant at $2. In market B, a firm with market power faces an inverse demand curve of P = 8-0.75Q and a marginal cost of $2. By how much is producer surplus greater in market A than in market B?14. If the government regulates the price of this natural monopolist to achieve a perfectly competitive output level, how will the consumer surplus change as a result? Price ($) 20 8.15 6.30 NAOOO ONTO LATC LMC MR D O 6 8 10 12 14 16 18 20 Quantity (1,000s) 9.42 11 15. Suppose a firm lowers its price to $10, raising the quantity sold from 4 to 5 units. If the marginal revenue of the fifth unit is $2, by how much must the firm have lowered its price