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PLEASE HELP DONT UNDERSTAND!! I don't understand questions A) to H) THIS IS AP MICRO Assessment Option A single-price profit-maximizing monopolist is enjoying economic profits,
PLEASE HELP DONT UNDERSTAND!! I don't understand questions A) to H) THIS IS AP MICRO
Assessment Option A single-price profit-maximizing monopolist is enjoying economic profits, (a) Graph its marginal cost (MC), average total cost (ATC), marginal revenue (MR), and demand curves (D) labeling all. (b) Label its profit-maximizing price (PM) and quantity (OM). (c) What would happen to the firm's total revenue if it produced more than the profit-maximizing quantity? Explain. (d) The firm becomes able to perfectly price discriminate. Label its new profit-maximizing quantity of production OM2. (e) Shade the entire area(s) of increased firm revenue. (f) Will the change in part (d) cause the monopoly to become allocationy efficient? Explain. (9) The demand curve intersects the y-axis at $100. PM is $20, and OM is 700 units. Calculate the area of lost consumer surplus. (h) The government imposes a $2 per-unit tax that results in the new profit-maximizing quantity being 500 units, What will the government's tax revenue be? Download ge 74.FStep by Step Solution
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