FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please explain why is there no marginal production costs in this diagram and please explain the diagram as well, thanks ! Monopoly Stackelberg D Bertrand/

Please explain why is there no marginal production costs in this diagram and please explain the diagram as well, thanks !

image text in transcribed
Monopoly Stackelberg D Bertrand/ Perfect competition FIGURE 14.15 Comparing Equilibrium Price and Quantity The monopolist would maximize prot where marginal revenue equals zero, since there are no marginal production costs. The equilibrium price will be higher, and the equilibrium quantity lower, than in the Cournot case

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essays In Economic Sociology

Essays In Economic Sociology

Authors: Max Weber, Richard Swedberg

1st Edition

0691218161, 9780691218168

More Books

Students also viewed these Economics questions

Question

★★★★★
A typical information technology department is comprised of common functional areas, and each requires skills and competencies unique to that area. Search the Web or visit an online job search site...

Answered: 1 week ago

Question

★★★★★
Security staff must and regulations.

Answered: 1 week ago

Question

★★★★★
90. The number of accidents in each period is a Poisson random variable with mean 5. With Xn, n 1, equal to the number of accidents in period n, find E[N] when (a) N = min (n: Xn2 = 2, Xn1 = 1, Xn =...

Answered: 1 week ago

Question

★★★★★
Medical Distributors, Inc. is a U.S. company that buys and sells used medical equipment throughout the United States and Canada. During the month of June, the company had the following transactions...

Answered: 1 week ago

Question

★★★★★
X Company, a merchandising company, had the following transactions during the year: 1. Received $8,767 from new owners. 2. Purchased $8,415 worth of merchandise on account from suppliers. 3. Sold...

Answered: 1 week ago

Question

★★★★★
River Cruises is all-equity-financed. Current Data 100,00 Number of shares Price per share Market value of shares le $1,000,000 State of the Economy Slump Normal Boom $ 70,750 116,500 178,000 Profits...

Answered: 1 week ago

Question

★★★★★
Describe why it is important for a rural community\'s municpal government to perform a strategic planning process every five to seven years?

Answered: 1 week ago

Question

★★★★★
Question 21 2 pts Zapp's Inc. purchased equipment for $60,000 on January 1, 2021. The salvage value is $1,400, and the estimated useful life is 5 years. The company usually uses the double- declining...

Answered: 1 week ago

Question

★★★★★
Think about the technology you've had access to as an employee or as a student. This can include applications, systems, portals, etc. Which technology did you use the most? What types of technology...

Answered: 1 week ago

Question

★★★★★
Question 1 5 pts International trade may offer lower unit prices but at a higher risk. Consider the total cost and trade off lower production costs with higher priced transportation and more...

Answered: 1 week ago

Question

★★★★★
The structure is hingedly supported at point A. The structure is affected by a triangular load q and a point load F. Solve the symbolic expressions for the support reactions. F=qL B K 2 3L 4L

Answered: 1 week ago

Question

★★★★★
6. It is what the person has previously done for the group that is the deciding factor.

Answered: 1 week ago

Question

★★★★★
3. It is the commitment you show that is the deciding factor.

Answered: 1 week ago

Question

★★★★★
4. It is the principle of equality (according to very specific criteria of equality) that is crucial.

Answered: 1 week ago

Previous Question Next Question