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Using a spreadsheet like the following, entering formulas for the total revenue and consumerâ€TMs surplus, and given the following demand curve of a consumer for a monopolistâ€TMs product Q=14-2P (a) find the total revenue of the monopolist when it sells 6 units of the commodity without practicing any form of price discrimination What is the value of the consumersâ€TM surplus? (b) What would be the total revenue of the monopolist if it practiced first-degree price discrimination? How much would the consumersâ€TM surplus be in this case? (c) What if the monopolist charged P= $5.50 for the first 3 units of the commodity and P= $4 for the next 3 unitsâ€"What type of price discriminiation is this?

Business Economics, Economics

  • Category:- Business Economics
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