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The data below relate to a monopolist and the product it produces.
1.The data below relate to a monopolist and the product it produces. calculate the marginal revenue and marginal cost for each quantity
you can copy the chart and paste in the answer box
Quantity Price per Unit Marginal revenue Total cost Marginal cost
0 $22 UNDEFINED $20 UNDEFINED
1 $20 $24
2 $18 $27
3 $15 $32
4 $14 $40
5 $12 $49
6 $10 $59
from the chart above, what is the profit maximizing price and quantity?
2.What role does the U.S. government play with respect to market competition? It policies anticompetitive behavior and prohibits contracts that restrict competition.
It preserves competition by regulating prices and intervening in the price and output decisions of businesses.
It preserves competition by maintaining abundant government-owned firms to ensure consumer friendly pricing.
3.If two companies are seeking regulatory approval to merge their respective businesses, which of the following will most likely NOT be the focus of the arguments that they will present in favor of the merger?
Consumers can purchase better quality goods or services at a lower price.
the newly created firm will have a greater market share
The newly created firm is able to take advantage of economies of scale.
The newly created firm will benefit consumers by operating more efficiently.
4.why does a monopoly face a down sloping demand?
because it will have the same number of buyers at each price
a monopoly actually faces an upward sloping demand since it can charge any price it wants
since it controls the market it faces a market demand
