# ECON 102 ECON102 Homework 8 Answer (Penn State University)

soffix

• \$8.99

ECON 102 Homework 8 Answer (Penn State University)

Question 1

0 / 1 pts

A monopolist faces a demand curve given by: P = 220 – 3Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to \$40. There are no fixed costs of production. How much output should the monopolist produce in order to maximize profit?

Question 2

0 / 1 pts

A monopolist faces a demand curve given by: P = 40 –Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to \$2. There are no fixed costs of production. What price should the monopolist charge in order to maximize profit?

Question 3

0 / 1 pts

A monopolist faces a demand curve given by: P = 40 –Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to \$2. There are no fixed costs of production. What is the deadweight loss associated with this monopoly?

Question 4

1 / 1 pts

A monopolist faces a demand curve given by: P = 105 – 3Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to \$15. There are no fixed costs of production. How much profit will the monopolist make?

Question 5

1 / 1 pts

A monopoly

Question 6

1 / 1 pts

A profit maximizing monopolist will produce the quantity where

Question 7

0 / 1 pts

Suppose a monopolist faces the following demand curve: What is the marginal revenue of the 2nd unit of output?

Question 8

0 / 1 pts

Suppose the price elasticity of demand for a monopolist is -1/2. If price equals \$10, then marginal revenue equals

Question 9

1 / 1 pts

Which of the following is the best example of price discrimination?

Question 10

0 / 1 pts

Suppose you have \$100 to divide between person A and person B. Which of the following allocations is not Pareto Efficient?

Sale

Unavailable

Sold Out