Questiona)monopoly faces a demand curve: D(p)=200-p. MC-10, FC= 100. Calculate the profit- maximaizing quantity and answer the following questions:P=CS=PS=TR=Marginal revenue function: MR=Inverse demand function: P=profit=TC=SW(Social welfare)=Optimal quantity: Q= Find the values for the above quantities using the following set of options:9900100190090405020200-Q110200-208000810012150180 b) The average cost function of a competitive firm is AC= 3/Q+ 2+ 3*Q The optimal quantity is: 2 How much is the profit?c) The marginal utility of x is 100-14x, and that of y is 200- Ay. The price of x is 1, the price of y is 2, the income of the consumer is 100. How many of y is there in the optimal basket?

GivenThe demand function for monopoly: Marginal cost of production MC=10, Total cost TC=100A…

Answered: monopoly faces a demand curve:…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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a)monopoly faces a demand curve: D(p)=200-p. MC-10, FC= 100. Calculate the profit- maximaizing quantity and answer the following questions:

CS=

PS=

TR=

Marginal revenue function: MR=

Inverse demand function: P=

profit=

TC=

SW(Social welfare)=

Optimal quantity: Q=

Find the values for the above quantities using the following set of options:

9900

100

1900

4050

200-Q

110

200-20

8000

8100

12150

180

b) The average cost function of a competitive firm is AC= 3/Q+ 2+ 3*Q The optimal quantity is: 2 How much is the profit?

c) The marginal utility of x is 100-14x, and that of y is 200- Ay. The price of x is 1, the price of y is 2, the income of the consumer is 100. How many of y is there in the optimal basket?

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