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Author Question: Suppose a monopolist's demand curve is P = 60 - Q, its cost function is TC = 10Q + 50, and its ... (Read 57 times)

javeds

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on: Jul 1, 2018
Suppose a monopolist's demand curve is P = 60 - Q, its cost function is TC = 10Q + 50, and its marginal cost is 10. If a governmental agency wished to set the price so that it created the smallest deadweight loss without causing the monopolist to have negative economic profits, this price would be
 
  A) 10.00.
  B) 11.02.
  C) 14.57.
  D) 35.00.

Question 2

Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at 0.20 per pound when 500 pounds are grown. The demand for potatoes is Q = 10,000/p. If the long-run supply curve is horizontal, then how much will consumers spend, in total, on potatoes?
 
  A) 0
  B) 500
  C) 10,000
  D) 50,000
Microeconomics ¦ Perloff ¦ 8th Edition
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joewallace

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Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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javeds

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

gcook

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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