Who is willing to purchase additional units at any price

Assignment Help Microeconomics
Reference no: EM13188877

A monopolist has two types of customers. There are 100 Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to $8. Neither is willing to purchase additional units at any price. If it must charge a uniform price, find that price

Reference no: EM13188877

Questions Cloud

Compute gdp-ndp and ni : Using the following national income accounting data, compute (a) GDP, (b) NDP, (c) NI. All figures are in billions. Compensation of employees U.S. exports of goods and services Consumption of fixed capital (depreciation) Government purchases Taxes on..
Designing and implementing a web application : The task in this assignment is to design a web application that enables a scientist to search for and select publications through a XML-based publication database using XML, Servlets and JSP.
Which market structure best characterizes the industry : Over the last decade, several firms have entered this industry and, as a consequence, Forey is earning a return on investment that roughly equals the interest rate. Furthermore, the four-firm concentration ratio and the Herfindahl-Hirschman index ..
Find the demand function : A manufacture has been selling 1500 television sets a week at 360 each. A market survey indicates that for each 15 rebate offered to a buyer, the number of sets sold will increase by 150 per week.
Who is willing to purchase additional units at any price : A monopolist has two types of customers. There are 100 Type A, who will each pay up to $10 for a single unit of the good, and 50 of Type B, who will each pay up to $8. Neither is willing to purchase additional units at any price. If it must charge..
How long will it take to cool off to a room temperature : when a cake is removed from a baking oven its temoperature is measured at 300F. three minutes later its temperature is 200F.how long will it take to cool off to a room temperature of 70F?
How to figure it out why the argument is wrong : if demand is unit elastic (the elasticity is 1), a 1% price cut increases the quantity sold by 1% and total revenue does not change. the question is: Assume the initial price is 1 and the initial quantity demanded is 1, thus the total revenue is 1..
How fast are the runners separating : the runners are running on circular tracks of which has a circumference of 1320 feet. the tracks are 100 feet apart and and the runners start opposite each other and move at the same constant rate of 880 ft/min. how fast are the runners separating..
What is the firms short-run supply curve : What is the short-run marginal cost curve b) What is the equation for average variable cost c) What is the minimum level of average variable cost d) What is the firm's short-run supply curve

Reviews

Write a Review

Microeconomics Questions & Answers

  Find evidence that the oil companies have monopoly power

During the oil crisis in the 1970s, long lines at gas stations disappeared soon after price controls were removed and gas prices were permitted to rise. Should this even be interpreted as evidence that the oil companies have monopoly power Why or..

  Price elasticity of demand

Suppose you are the manager of a small pharmaceutical firm that received a patent on a new drug 3-years before. Despite strong sales and a low marginal cost of manufacturing the product

  Price output combination optimal

Boston based gas station owner set highest gasoline values in the country. During that summer, he charged $1.69 per gallon for unleaded gas during the daytime and $2.59 each gallon at night

  Analyze a news from a global newspaper

News Analysis. Analyze a news from a global newspaper (Financial Times, Newsweek or a similar one), delivering a report that could be useful for your company to take a managerial decision.

  What are normal goods

What are "normal" goods? Give an example in our current economy and what are "inferior" goods? Give an example in our current economy.

  Government intervention in market

Mention five ways you are affected on a daily basis by government intervention in the market. For what reason might government be involved? Is that reason justified?

  Calculate the cross elasticity of demand

During the past year, the average price of lots along Lake Michigan in Carol Beach rose from $2,500 to $3,000 per foot of lake front. At the same time, sales of new homes located off the Lake rose from 40 to 70 units. Calculate the cross elastici..

  Explain exchange in the economy

Exchange in an island economy.robin and terry are stranded on a deserted island and consume two products, coconut and fish. In a day, robin can catch 2 fish or gather 10 coconuts, and terry can catch 1 fish or gather 1 coconut.

  Find total revenue

Find Total Revenue or profit

  Describe labor supply growth

Pass laws prohibiting children from working in labor market X. Require a license to work in labor market X. Increase tariffs on imports that compete with labor market X employers.

  How to reduce the costs of making transactions

How does the existence of money reduce the costs of making transactions ,relative to a society based entirely on barter. English is becoming the usual language for international transactions, even if the language of neither country is English.How ..

  Graph the demand and marginal cost curves

Graph the demand and marginal cost curves and calculate and indicate on the graph the equilibrium price and quantity

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd