The right answers

The graph given below depicts the market for metal kegs. Ps Costs and revenues Quantity perperiod a) Name the four curves shown in the graph: (1) Marginal cost (2) Average cost (3) Marginal revenue (4) Demand b) If this were a perfectly competitive market, what would be the equilibrium price and quantity? Price: P1 Quantity: Q1 0 c) Suppose instead that the graph depicts a monopolist. What will be the profit-maximizing price and quantity? Price: P5 Quantity: Q10 d) Now suppose that the government is not satisfied with the monopolist's performance and decides to impose a socially optimum price. What will be the new price and quantity? Price: PZ Quantity: Q3 0 e) Finally, suppose that instead of the socially optimum price, the government imposes a fair-return price. What will be the price and quantity? Price: P4 Quantity: Q2 0The graph below shows the cost and revenue curves. for lchiBan Inc.. a monopolist. 18 15 12 Memes and 00618 \\D 0 30 an 90 120 150 1311 Quantity per period a. What is the monopolist's prot-maximizing output and price? Output 60 o Price: $ 12 a b. What will be the monopolist's total prot'? n00 Sol-Motors is the only auto manufacturer in West Lidia, a country that prohibits the importation of cars. The graph below shows the demand and the costs for Sol-Motors. Your Graph Score: 100% MC D 66 10 MR Costs and revenues (in thousands) X 20 60 80 100 120 140160 1802 220 Quantity per period (in thousands) a. Add the marginal revenue curve to the graph above (starting at zero). Plot only the end points. b. What are Sol-Motors' profit-maximizing output and price? Output: 70 @ thousands Price: $ 30 @ thousands c. Suppose that the government of Lidia imposes a price ceiling of $30.000 per car. What is the firm's profit-maximizing output now? Profit-maximizing output | 70 @ thousands d. What would be the output if the graph represented a perfectly competitive industry rather than a monopoly? Output: 60 thousandsGraph SHOWS the cost and revenue information for Shitonsu the monopolist. What are the levels of price, output. total [sales] revenue. and total prot?= if the monopolist were to produce at the positions [ail through {d} indicated in table beloW? YES 3% 4a 42 36 30 24 \\ 13 12 Costs and revenues 0 6 12 18 24 30 36 42 Quantity perperiod Total Price 5 Cut 1: Revenue 5 a. late] revenue maxinization 5w a. Complete the table below, which shows the costs and revenues of Solo the monopolist (You may assume that the demand cu we is a straight line.) Leave no cells blank - be certain to enter '0" wherever required. b. What are the values ofthe protmaximizing output. price. and total prot or loss? Output: ? 9 Price: $ 20 0 Total prot az$| 220 c. At what output will total revenue be maximized. and what will be the value oftotal revenue? Output [u nitsJ: 9 O Total revenue: '1; I44 0 d. What is the value of MR when profits are maximized and when total revenue is maximized? MR is $ Owhen prots are maximized. MR is 0 6 when total revenue 'Is maximized. The following table shows the cost and revenue data for Molly the monopolist. Quantity per Marginal Period ' Revenue a. Complete the table above. b. What are Molly's prot-maximizing output and price, am: what will be the amount of her prot? Output: 5 Q Price:$ 0 Prot: :5 25 O c. Suppose that the demand for Molly's product increased by three units at ever).r price level. Complete the table below. Quantity per Total Marginal Mars 1 Period Revenue Revenue cost Total CD51: s m J J J 1 Jan iii I 1.? I J o! ._. a! D: ._. a: d. What will be her new profit-maximizing output and price, and what will be the amount of her profit? Output: 6 Price: $ 28 Profit: $ 4Required Information The following table gives the cost and demand data for a particular market. Output Price ($) Marginal Revenue Average Cost $ |Marginal Cost $ $24 11.7 10.5 10 9.75 9.6 9.6 9.6 Refer to the above information to answer this question. Suppose that the data describes a monopoly industry. What will be the monopoly price and output? Multiple Choice O $11.5 and 4. O $10 and 5. O $8.5 and 6. O $7 and 7. O $5.5 and 8.Refer to the above information to answer this question. Suppose that the data describes a monopoly industry. What will be the total profits or loss at the profit-maximizing output? Multiple Choice O O Profit of $3.5. O Profit of $4. O Profit of $4.5. O Loss of $9.Refer to the above information to answer this question. Suppose that the data describes a perfectly competitive industry. What will be the equilibrium price and output? Multiple Choice O $11.5 and 4. O $10 and 5. $8.5 and 6. O $7 and 7. O $5.5 and 8.Refer to the above information to answer this question. Suppose that the data describes a perfectly competitive industry. What will be the total profit or loss of the industry at equilibrium? Multiple Choice O $0. O Profit of $3.5. O Profit of $4. O Profit of $4.5. O Loss of $7.50