please only answer 12 Facebook is the biggest seller of advertising space in the socialmedia market (Instagram is also a major seller, but it is owned byFacebook). Assume that Facebook is a monopolist and isillustrated by the graph below.Use the below graph for #9 - 16.P(5)17161514a, 14.0ATC34, 1.416, 1.817, 1831. 1.4MC1011 12134 15 1617e19 20 21 22 23 24 25 26 27 28 2930 31 32 33 34Q (milions)What is the quantity of ads that Facebook sells?QUESTION 10What price does Facebook charge?QUESTION 11What is the size of the mark-up?QUESTION 12What is the profit earned by Facebook?

A monopolist earns maximum profit by producing at level of output where MR = MC. Total Profit =…

Facebook is the biggest seller of advertising space in the social media market (Instagram is also a major seller, but it is owned by Facebook). Assume that Facebook is a monopolist and is illustrated by the graph below. Use the below graph for #9 - 16. 18 17 16 15 14 1, 14.0 13 12 11 10 ATC 34, 14 16, 1.8 1, 1.4 17, 1.8 MC 1011 121344 15 16 17e19 20 21 22 23 24 25 26 27 20 29 30 31 32 3334 MR T Q(milions) 15, 1.9

Facebook is the biggest seller of advertising space in the social media market (Instagram is also a major seller, but it is owned by Facebook). Assume that Facebook is a monopolist and is illustrated by the graph below. Use the below graph for #9 - 16. 18 17 16 15 14 1, 14.0 13 12 11 10 ATC 34, 14 16, 1.8 1, 1.4 17, 1.8 MC 1011 121344 15 16 17e19 20 21 22 23 24 25 26 27 20 29 30 31 32 3334 MR T Q(milions) 15, 1.9

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter11: Price And Output Determination: Monopoly And Dominant Firms

Section: Chapter Questions

Problem 2.3CE

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