price quantity price quantity
$10 0 $4 6
$9 1 $3 7
$8 2 $2 8
$7 3 $1 9
$6 4 $0 10
$5 5
what price and quantity will the monopolist produce at if themarginal cost is a constant $4?
price quantity price quantity
$10 0 $4 6
$9 1 $3 7
$8 2 $2 8
$7 3 $1 9
$6 4 $0 10
$5 5
what price and quantity will the monopolist produce at if themarginal cost is a constant $4?
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Related questions
A monopolist has the following fixed and variable costs:
| Price | Quantity | Fixed Cost | Variable Cost | Total Cost | Marginal Cost | Total Revenue | Marginal Revenue |
| $10 | 0 | $8 | $0 | Ā | Ā | Ā | Ā |
| $9 | 1 | $8 | $5 | Ā | Ā | Ā | Ā |
| $8 | 2 | $8 | $8 | Ā | Ā | Ā | Ā |
| $7 | 3 | $8 | $10 | Ā | Ā | Ā | Ā |
| $6 | 4 | $8 | $11 | Ā | Ā | Ā | Ā |
| $5 | 5 | $8 | $13 | Ā | Ā | Ā | Ā |
| $4 | 6 | $8 | $16 | Ā | Ā | Ā | Ā |
| $3 | 7 | $8 | $20 | Ā | Ā | Ā | Ā |
| $2 | 8 | $8 | $25 | Ā | Ā | Ā | Ā |
Complete the above table.
An amusement park, whose customer set is made up of two markets, adults and children, has developed demand schedules as follows:
The marginal operating cost of each unit of quantity is $5. Because marginal cost is a constant, so is an average variable cost. Ignore fixed costs. The owners of the amusement part want to maximize profits.
|
Price ($) |
Quantity |
|
|
Adults |
Children |
|
|
5 |
15 |
20 |
|
6 |
14 |
18 |
|
7 |
13 |
16 |
|
8 |
12 |
14 |
|
9 |
11 |
12 |
|
10 |
10 |
10 |
|
11 |
9 |
8 |
|
12 |
8 |
6 |
|
13 |
7 |
4 |
|
14 |
6 |
2 |
Calculate the price, quantity, and profit if: The amusement park charges a different price in the adult market
Please express your answers for Price and Profit in whole dollars (i.e.10.00)
Please use whole numbers for Quantity (i.e. 10, 27, 4)
|
Price |
Quantity |
Total Revenue |
Marginal Revenue |
Marginal Cost |
Total Cost |
MR-MC |
Profit |
| Ā |
6 |
84 |
Ā |
5 |
30 |
Ā |
34 |
|
13 |
Ā |
91 |
7 |
5 |
35 |
2 |
56 |
|
12 |
8 |
96 |
5 |
5 |
40 |
0 |
Ā |
| Ā |
9 |
99 |
3 |
5 |
45 |
-2 |
54 |
|
10 |
Ā |
100 |
1 |
5 |
50 |
-4 |
50 |
|
9 |
11 |
99 |
-1 |
5 |
55 |
-6 |
Ā |
| Ā |
12 |
96 |
-3 |
5 |
60 |
-8 |
36 |
|
7 |
Ā |
91 |
-5 |
5 |
65 |
-10 |
26 |
|
6 |
14 |
84 |
-7 |
5 |
70 |
-12 |
Ā |
|
5 |
15 |
75 |
-9 |
5 |
75 |
-14 |
0 |
