Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

1. Fill in the table below.  Suppose TC stands for Total Cost, TFC as Total Fixed Cost, TVC as Total Variable Cost, ATC as Average Total Cost, AFC as Average Fixed Cost, AVC as Average Variable Cost, and MC as Marginal Cost.

1811_Total cost table.jpg

2.  Use graph below and answer the following problems:

Market demand at the beginning is D1, and its corresponding marginal revenue is MR1. Initial ATC is ATC1, and original supply is MC1.  Hence, the monopolist sells _____ units at $ _____ per unit, and his/her total profit is $____________.  After a given time period, due to investment and technological advances, which cost the monopolist an increase in TFC, results in a cost of production decrease to ATC2 and its corresponding supply to MC2.  Monopolist, then, in the absence of price regulation by the government, will like to produce _______ units and charge a unit price of $__________.  Though, due to quality improvements and effective advertising, the demand increases to D2, while its corresponding marginal revenue is MR2, with ATC2 and MC2 remaining unchanged. Monopolist, hence, produces and sells approximately ______ units at $_______ per unit.  His/her total profit is now approximately $___________.

22_market demand.jpg

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91817
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question? 


Related Questions in Microeconomics

1 firms that had virtual monopolies that is control over at

1. Firms that had virtual monopolies, that is control over at least 80% of industry production, because of control over an essential resource include all of the following except the A) National Football League in the 195 ...

These questions are about the usa industrialization and

These questions are about the USA Industrialization and Economic Development. At least 200 words for each question! 1. What is meant by the term "development" inneo-classic economics? How might your answer to this questi ...

Assignmentuse the globaledge website to complete the

Assignment Use the globalEDGE website to complete the following exercises: • The World Trade Organization maintains a database of regional trade agreements. You can search this database to identify all agreements that a ...

Assignmentwrite an assessment in which you address the

Assignment Write an assessment in which you address the following problems/questions: 1. Evaluate the leverage implications of debt financing choices. You should include in your discussion the decomposition of ROE model. ...

Microeconomics - price floorassignmentin a perfectly

Microeconomics - Price Floor Assignment In a perfectly competitive market, the equilibrium price and quantity represent the most efficient operation of that market. Optimum efficiency means that sellers cannot be made be ...

For this first project you will produce a microeconomic

For this first project, you will produce a microeconomic analysis related to a publicly traded Apple company Your individual microeconomic analysis paper should respond to the following prompt: Assess how microeconomic v ...

Assignmentterm projectfor this course you will assume the

Assignment TERM PROJECT For this course, you will assume the role of a manager or legal advisor and create a PowerPoint presentation for an organizational employee meeting. The subject of the presentation will be complia ...

1 explain the difference between explicit and implicit

1) Explain the difference between explicit and implicit costs of production. 2) Explain the reasoning behind the U-shaped, long-run, average cost curve. 3) Explain the law of diminishing marginal returns. 4) Describe eco ...

From the e-activity analyze the elasticity of demand for

From the e-Activity, analyze the elasticity of demand for products within the selected industry relevant to Katrina's Candies. Determine the factors involved in making decisions about pricing these products that you beli ...

Topic 1 costs and economies of scaleyou have learned a good

Topic 1: Costs and Economies of Scale You have learned a good deal about production costs and profit in this unit. You have also learned that accountants and economists calculate profit differently. Moreover, many suppli ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate