Reference no: EM131768848
For the next five questions, consider a monopolist. Suppose the monopolist faces the following demand curve: P = 100 - 3Q. Marginal cost of production is constant and equal to $10, and there are no fixed costs.
What is the monopolist's profit maximizing level of output?
A - Q = 10
B - Q = 15
C - Q = 16
D - Q = 30
E - Q = 33
F - none of the above
What price will the profit maximizing monopolist charge?
A - P = $100
B - P = $55
C - P = $45
D - P = $15
E - P = $10
F - none of the above
How much profit will the monopolist make if she maximizes her profit?
A - Profit = $300
B - Profit = $327.5
C - Profit = $825
D - Profit = $1,012.5
E - Profit = $1,350
F - none of the above
What is the value of consumer surplus?
A - CS = $300
B - CS = $100
C - CS = $412.5
D - CS = $337.5
E - CS = $750
F - none of the above
What is the value of the deadweight loss created by this monopoly?
A - Deadweight loss = $412.5
B - Deadweight loss = $250
C- Deadweight loss = $675
D - Deadweight loss = $750
E - Deadweight loss = $337.5
F - none of the above
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