TR=60Q+30Q² And Q=2 Find MR
Answers
Answer:
Mr _659Q 2 and Q2 socnd 1_1 55`°7
Answer:
1. The five factors include, exclusive control over inputs, economies of scale, patents, a network economy, and government licensing or franchising, Economies of scale derive from technological conditions rather than institutional arrangements that can change anytime.
2. Yes if the transportation costs of cement from the next town make the competing cement more expensive than the monopoly price of the local cement.
3. Since the demand curve slopes downward, marginal revenue will always be less than price; because for each additional unit sold one must lower the price for all other goods sold.
4. On the inelastic portion of the curve, raising price will always increase revenue and (since output will be lower) it also lowers costs. Therefore the firm should always move up the demand curve to where it is not inelastic if profit maximization is a goal.
5. If MR intersects MC from below, then MC must be downward sloping; more output will lower MC.
6. No effect. The same P and Q that maximize also maximize .
7. Price would be 50% higher than marginal cost.
(P – MC) /P = 1 – MC/P = 1/3 or MC/P = 1 – 1/3 2/3 or P/MC = 3/2.
8. The price-quantity pair that maximizes profits will also maximize the profits minus a lump sum tax. Such a tax is equivalent to any other fixed cost since it leaves the optimal price-quantity pair unaffected.
9. With a perfectly horizontal market demand curve, there will be no deadweight loss. So true.
10. Whoever owns the firm will want to increase profits by reducing x‑efficiency.
11. The hurdle model gives the lower price only to those willing to jump the hurdle so the markets are more easily segregated. Deadweight losses are reduced.
Explanation:
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