If jimmy is a single-price monopoly at the profit, Ask an Expert

Economics

Jimmy makes decorative ceramic tiles with Victorian designs. He is the only supplier of these handcrafted tiles. The tables below show the daily demand schedules and total cost figures for his tiles.

Price ($/unit) Quantity (units/day) TR MR Quantity (units/day) TC MC
20 0 0 0 0 2 0
19 1 19 19 1 3 1
18 2 36 17 2 5 2
17 3 51 15 3 8 3
16 4 64 13 4 12 4
15 5 75 11 5 17 5
14 6 84 9 6 23 6
13 7 91 7 7 30 7
12 8 96 5 8 38 8
11 9 99 3 9 47 9
10 10 100 1 10 57 10
9 11 99 -1 11 68 11
8 12 96 -3 12 80 12

If Jimmy is a single-price monopoly, at the profit maximisation output, is the market efficient? describe. Suggest two methods Jimmy can use to increase his sales and profit. describe your answer.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M955408

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question - in the solow growth model suppose that the

Question - In the Solow growth model, suppose that the per-worker production function is given by y = zk 3 , with s = 0.25, d = 0.1, and n = 0.02. 1. Suppose that in country A, z = 1. Calculate per capita income and capi ...

Question research on how supervisors rate employees who

Question: Research on how supervisors rate employees who work under them has found that in some firms as many as 95 percent of all ratings are "good" or "outstanding." a. Is this necessarily evidence that supervisors are ...

Question many critics of government programs to help low

Question: Many critics of government programs to help low income individuals argue that these programs create a poverty trap. Explain how programs such as TANF, EITC, SNAP, and Medicaid will affect low-income individuals ...

Question part a given that there is an inflationary gp of

Question: (Part A) Given that there is an inflationary GP of 800 Billion dollars and we have an MPC=0.75, calculate the amount of spending that would be necessary to achieve FE-GDP (Part B) Using the calculations from (P ...

Question from 1982 through 2000 the sampp 500 stock price

Question: From 1982 through 2000, the S&P 500 stock price index rose an average of 14.7% per year (all figures in this problem are annual averages). Over the same period, the Aaa corporate bond rate fell from 13.8% to 7. ...

Question some economists and politicians have suggested

Question: Some economists and politicians have suggested that in future years, the concept of the common European currency be extended to include those smaller countries previously under Soviet domination. What would be ...

Question - research a recent within one year article that

Question - Research a recent (within one year) article that discusses an unethical behavior or activity associated with a famous apparel or accessories brand. Discuss the article and any associated articles that disclose ...

Question discuss how recessionary and inflationary gaps may

Question: Discuss how recessionary and inflationary gaps may restore full employment according to the Keynesian perspective. show the appropriate graph to support your explanation. The response must be typed, single spac ...

Question -most people conclude that the costs outweigh the

Question - Most people conclude that the costs outweigh the benefits of a suicide bombing attack; yet, some people willingly engage in such activity. Are they miscalculating the cost/benefit problem, or do they simply va ...

Question corporate officers and directors owe fiduciary

Question: Corporate officers and directors owe fiduciary duties to the corporation. What is a fiduciary relationship? Identify at least two of the fiduciary duties and provide an example of each. The response must be typ ...

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

Recent Questions

Ask Microeconomics Expert