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12 Jan 2018
Use the table below to answer the following question. Table 9 Chemical Fertilizer Market Output (tonnes Marginal Marginal Marginal Social Private Social Benefit Cost Cost (dollars) (dollars) (dollars) 14050 80 120 90 70 100 80 80 110 90 120 60 F 30) Refer to Table 9. The Pigovian tax that achieves the efficient quantity of output is A) $20 a tonne B) SO. CS10 a tonne D) $30 a tonne. E) S40 a tonne
Use the table below to answer the following question. Table 9 Chemical Fertilizer Market Output (tonnes Marginal Marginal Marginal Social Private Social Benefit Cost Cost (dollars) (dollars) (dollars) 14050 80 120 90 70 100 80 80 110 90 120 60 F 30) Refer to Table 9. The Pigovian tax that achieves the efficient quantity of output is A) $20 a tonne B) SO. CS10 a tonne D) $30 a tonne. E) S40 a tonne
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Related textbook solutions
Related questions
Assignment 1 (10 points)
Willy's Widget, a monopoly, faces the following demand schedule (sales in widgets per month):
|
Price |
Quantity |
|
|
80 |
10 |
|
|
75 |
20 |
|
|
70 |
30 |
|
|
65 |
40 |
|
|
60 |
50 |
|
|
55 |
60 |
|
|
50 |
70 |
|
|
45 |
80 |
|
|
40 |
90 |
|
|
35 |
100 |
|
|
30 |
110 |
|
|
25 |
120 |
|
|
20 |
130 |
Calculate marginal revenue over each interval in the schedule. If marginal cost is constant at $38 and the fixed cost is $400, what is the profit-maximizing level of output? What is the level of profit? Explain your answer using marginal cost and marginal revenue.
Repeat the exercise for MC = $18
Assignment 2 (10 points)
The following diagram shows the cost structure of a monopoly firm as well as market demand. Identify on the graph and calculate the following:
Profit maximizing output level
Profit maximizing price
Total revenue
Total cost
Total profit or loss
