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3 years ago

Demand and cost information for a monopoly

Business

1 answer:

sattari [20]3 years ago

8 0

Question:

Please see the Demand and Cost information reproduced in the attached table

Answer:

The correct choice is A)

Profit if maximized where price is equal to $20.

At this price, MR = MC.

Please see the attached PDF.

Explanation:

The profit-maximizing choice for the monopoly will be to produce at the quantity where marginal revenue is equal to marginal cost:

That is, the point where MR = MC.

If the monopoly produces a lower quantity, then MR > MC at those levels of output, and the firm can make higher profits by expanding output.

Cheers!

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Answer:

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Respond to the following short answer prompt: Imagine you are a lead social science researcher and are responsible for approving

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Answer:

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Explanation:

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Question Completion:

See attached.

Answer:

Luwak Coffees

1. Water bill is fixed. Electricity bill is variable. Telephone bill is mixed.

2. High-Low method:

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Electricity bill = $0.3q

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where q = the quantity of each cost consumed.

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Explanation:

a) Data and Calculations:

Month Electricity Bill Kilowatt Hours Used

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February $ 840 2,800

March $1,098 3,660

April $ 810 2,700

May $1,176 3,920

June $1,248 4,160

July $1,044 3,480

August $1,194 3,980

September $1,260 4,200

October $1,230 4,100

November $1,188 3,960

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High cost = December $1,266 4,220

Low cost = Jan $ 720 2,400

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Variable cost = $1,266

Fixed cost = $0 ($1,266 - 4,220 * $0.3)

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High, June $197.60 2,880

Low, April 178.20 1,960

Difference $18.40 920

Variable cost = $18.40/920 = $0.02

Fixed cost = Total cost - Variable cost

= $197.60 - (2,880 * $0.02)

= $140

Download docx

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Answer:

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Explanation:

see the attached file below

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