q1. Consider a monopoly market for Usyd Hoodies.Students have a demand curve given by p= 200- 5q(s).Lecturers have a demand curve given by p= 110-q(l).The total cost of producing Usyd Hoodies is .If the monopoly is able to effectively use third-degree price discrimination, what is the total profit of the monopolist?

Group of answer choices

0

2025

2250

None of the other answers is correct

4275

q2. Which of the statements below is true?

I. In a market with excess supply, price will decrease as the market adjust to the equilibrium.

II. In a market with excess demand, price is above the equilibrium price.

III. In a market with excess demand, price will decrease as the market adjusts to the equilibrium.

Group of answer choices

only II and III are true

only I is true

I, II, and III are true

None of the other answers is correct

only II is true

q4. Consider a monopolist facing a demand curve of p=200 - 4q, where P is market price and q is quantity. The monopolist has a constant marginal cost curve of $25 per unit. What is the monopolist's marginal revenue curve (MR)?

Group of answer choices

MR = 200-8q

MR = 400-4q

MR = 200-2q

None of the other answers is correct

MR = 400-8q

q5.Consider a market with: a demand curve of P=60-3Q (d), where P is the market price and Q (d)is the quantity demanded; and a supply curve of p=Q(s), , whereis the quantity supplied. What is the price elasticity of demand at the market equilibrium?

1/3

-3

-2/3

None of the other answers is correct

-1/3