03 Jun Question HW 4 1. (.25 points) A monopolist faces the inverse demand function described by p = 100 – 2q, where q is output. Then, the marginal revenue funct
Question
HW 4
1. (.25 points) A monopolist faces the inverse demand function described by p = 100 – 2q, where q is output. Then, the marginal revenue function is given by ____________
2. (.25 points) A monopolist faces the inverse demand function described by p = 100 – 2q, where q is output. The monopolist has no fixed cost and his marginal cost is $20 at all levels of output. What is the monopolist’s profit as a function of his output?__________
3. (.25 points) A monopolist faces the inverse demand function described by p = 100 – 2q, where q is output. The monopolist has no fixed cost and his marginal cost is $20 at all levels of output. What is the level of output that will maximize monopolist’s profit? _________
4. (.25 points) A monopolist faces the inverse demand function described by p = 100 – 2q, where q is output. The monopolist has no fixed cost and his marginal cost is $20 at all levels of output. What is the monopolist’s price? _________
5. (.25 points) A demand for the book is Q = 250 – 20p. Then, the marginal revenue function is given by ___
6. (.25 points) A demand for the book is Q = 250 – 20p. The cost function is c(Q) = Q2/5 What is the level of output that will maximize the monopolist’s profit? _________
7. (.25 points) A demand for the book is Q = 250 – 20p. The cost function is c(Q) = Q2/5 What is the monopolist’s price? _________
8. (.25 points) A profit-maximizing monopoly faces an inverse demand function described by the equation p(y) = 25 – y and its total costs are c(y) = 5y, where prices and costs are measured in dollars. What is the level of output that will maximize monopolist’s profit? _________
9. (.25 points) A profit-maximizing monopoly faces an inverse demand function described by the equation p(y) = 25 – y and its total costs are c(y) = 5y, where prices and costs are measured in dollars. What is the monopolist’s price? _________
10.(.25 points) A profit-maximizing monopoly faces an inverse demand function described by the equation p(y) = 25 – y and its total costs are c(y) = 5y, where prices and costs are measured in dollars. In the past it was not taxed, but now it must pay a tax of 5 dollars per unit of output. Find the marginal cost after the tax. __________________
11.(.25 points) A profit-maximizing monopoly faces an inverse demand function described by the equation p(y) = 25 – y and its total costs are c(y) = 5y, where prices and costs are measured in dollars. In the past it was not taxed, but now it must pay a tax of 5 dollars per unit of output. What is the level of output that will maximize monopolist’s profit after tax? _________
12.(.25 points) A profit-maximizing monopoly faces an inverse demand function described by the equation p(y) = 30 – y and its total costs are c(y) = 6y, where prices and costs are measured in dollars. In the past it was not taxed, but now it must pay a tax of 2 dollars per unit of output. Find the monopoly price after the tax. _____________________
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