4. The market quantity demanded for a monopolist's product is Q = 50 - p/2, where p is the per unit price of the product

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4 The Market Quantity Demanded For A Monopolist S Product Is Q 50 P 2 Where P Is The Per Unit Price Of The Product 1 (322.23 KiB) Viewed 84 times

4. The market quantity demanded for a monopolist's product is Q = 50 - p/2, where p is the per unit price of the product. What is the marginal revenue received by the monopolist if it supplies the 12th unit of its product? (a) $76 per product unit. (b) $912. (c) $50 per product unit. (d) $46 per product unit. (e) None of the above. 5. A monopolist's profit-maximizing quantity of its product is 10 units. The economically efficient quantity supplied of the product is 14 units. Consumers' valuations of the 11th, 12th, 13th and 14th units of the product are, respectively, $20, $17, $14 and $11. The monopolist's marginal cost of production is constant at $11 per product unit. What is the size of the deadweight loss caused by the monopolist choosing to supply 10 units of its product? (a) $11. (b) $18. (c) $44. (d) $62. (e) $28. 6. The marginal revenues received by the monopolist when it supplies the first 10 units of its product are, respectively, 20, 18, 16, 14, 12, 10, 8, 6, 4 and 2 dollars per product unit. The marginal costs suffered by the monopolist when it supplies the first 10 units of its product are, respectively, 1, 2, 3, 5, 7, 9, 11, 14, 17 and 20 dollars per product unit. What is the value of the highest Total Producer's Surplus that the monopolist can achieve? (a) $1. (b) $60. (c) $63. (d) Total Producer's Surplus cannot be determined without knowing the firm's fixed input cost. (e) None of the above. 7. The quantity demanded of a monopolist's product is QP = 10 - p/2 product units. The marginal costs suffered by the monopolist when it supplies the first 10 units of its product are, respectively, 1, 2, 3, 5, 7, 9, 11, 14, 17 and 20 dollars per product unit. What is the quantity supplied to this market that maximizes the gains generated by the market? (a) 2 product units. (b) 4 product units. (c) 6 product units. (d) 8 product units. (e) None of the above. 8. The marginal revenues received by the monopolist when it supplies the first 10 units of its product are, respectively, 20, 18, 16, 14, 12, 10, 8, 6, 4 and 2 dollars per product unit. The marginal costs suffered by the monopolist when it supplies the first 10 units of its product are, respectively, 1, 2, 3, 5, 7, 9, 11, 14, 17 and 20 dollars per product unit. The Government wants to induce the monopolist to supply 8 units of its product to its market and, to achieve this