Llala - Assignment Essays

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You are the manager of a monopoly that faces the demand curve described by P= 63 - 5Q. Your costs are C= 10+ 3Q. The total revenue maximizing output is

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6.3

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The cournot theory of oligopoly is based on the assumption that each firm believes that rivals will

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keep their output constant if it changes its output.

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You are the manager of a firm that sells its product in a competitive market at a price of 50$. Your firms cost function is c=40+5q^2 what's the profit maximizing output?

answer

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In a competitive industry with identical firms, long run equilibrium is characterized by

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All of the above

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Which of the following is always true under a monopoly

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P> minimum of atc

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A linear negatively sloped demand function exhibits

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Less elastic demand as output increases

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In the long run, monopolistically competitive firms charge prices

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Above the minimum of average total cost

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In The long run, monopolistically competitive firms

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Have excess capacity

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A new firm enters a market which is already service By a Bertrand duopoly charging a price of 20. What will the new price be should the three firms coexist after entry

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Which of the following is true?

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All or the statements associated with this question are correct

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When firm one enjoys a first mover advantage in a stackelberg duopoly, it will produce

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More output and charge the same as firm 2

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You are a manager in a perfectly competitive market. The price in your market is $14. Your total cost curve is C (Q) = 10+ 4Q +0.5 Q squared. What will happen in the long run if there is no change in the demand curve

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Some firms will enter the market eventually

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In a Sweezy Oligopoly, a decrease in a firm's marginal cost in the perfectly inelastic portion of the MR CURVE leads to:

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None of the statements associated with this question are true

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Firm one and firm to compete as a COURNOT oligopoly. There is an increase in marginal cost for a firm one. Which of the following is not true

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Both Firm ones and firm two's reaction functions are shifting

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Two identical firms compete as a quarter not duopoly the demand they face is P = 100- 2Q. The cost function for each firm is C ( Q) = 4Q. Each firm and is it equilibrium profit of

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1,024

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With a linear inverse demand function and the same constant marginal costs for both firms in a homogeneous product Stackelberg duopoly, which of the following will result?

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Profit of leader > profit of follower

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You are the manager of a monopoly that faces a demand curve described by P = 230 minus sign 20 Q. Your costs are C = 5+30 Q the profit maximizing output for your firm is

answer

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Consider a monopoly where the inverse demand for its product is given by P = 50- 2Q. Total cost for this monopolist are estimated to be C ( Q) = 100+ 2Q plus Q squared. At the profit maximizing combination of all put in price profit is

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You are a manager in a perfectly competitive market. The price in your market is $14 your total cost curve is c( Q) = 10+4Q+0.5qsqr. What level of profits will you make in the short run

answer

question

You are the manager of a monopoly that face is an inverse demand curve described by P = 200-15 Q. Your costs are C = 15+20 Q. The profit maximizing price

answer

110

1 of 20

question

You are the manager of a monopoly that faces the demand curve described by P= 63 - 5Q. Your costs are C= 10+ 3Q. The total revenue maximizing output is

answer

6.3

question

The cournot theory of oligopoly is based on the assumption that each firm believes that rivals will

answer

keep their output constant if it changes its output.

question

You are the manager of a firm that sells its product in a competitive market at a price of 50$. Your firms cost function is c=40+5q^2 what's the profit maximizing output?

answer

question

In a competitive industry with identical firms, long run equilibrium is characterized by

answer

All of the above

question

Which of the following is always true under a monopoly

answer

P> minimum of atc

question

A linear negatively sloped demand function exhibits

answer

Less elastic demand as output increases

question

In the long run, monopolistically competitive firms charge prices

answer

Above the minimum of average total cost

question

In The long run, monopolistically competitive firms

answer

Have excess capacity

question

A new firm enters a market which is already service By a Bertrand duopoly charging a price of 20. What will the new price be should the three firms coexist after entry

answer

question

Which of the following is true?

answer

All or the statements associated with this question are correct

question

When firm one enjoys a first mover advantage in a stackelberg duopoly, it will produce

answer

More output and charge the same as firm 2

question

answer

Some firms will enter the market eventually

question

In a Sweezy Oligopoly, a decrease in a firm's marginal cost in the perfectly inelastic portion of the MR CURVE leads to:

answer

None of the statements associated with this question are true

question

Firm one and firm to compete as a COURNOT oligopoly. There is an increase in marginal cost for a firm one. Which of the following is not true

answer

Both Firm ones and firm two's reaction functions are shifting

question

Two identical firms compete as a quarter not duopoly the demand they face is P = 100- 2Q. The cost function for each firm is C ( Q) = 4Q. Each firm and is it equilibrium profit of

answer

1,024

question

With a linear inverse demand function and the same constant marginal costs for both firms in a homogeneous product Stackelberg duopoly, which of the following will result?

answer

Profit of leader > profit of follower

question

You are the manager of a monopoly that faces a demand curve described by P = 230 minus sign 20 Q. Your costs are C = 5+30 Q the profit maximizing output for your firm is

answer

question

answer

question

You are a manager in a perfectly competitive market. The price in your market is $14 your total cost curve is c( Q) = 10+4Q+0.5qsqr. What level of profits will you make in the short run

answer

question

You are the manager of a monopoly that face is an inverse demand curve described by P = 200-15 Q. Your costs are C = 15+20 Q. The profit maximizing price

answer

110

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