The following figure shows the revenue curves of a monopolist Figure 11.6 5000- 4000 Pnce ($) 2500- 0 200 D: Average revenue MR: Marginal revenue 400 O $500.000 O $300,000 O $350,000 O $250,000 O $1,000,000 MR Quantity D In Figure 11.6, assume that marginal costs are constant at $2,500 and fixed costs are 0. What would be the amount of consumer surplus if the market was perfectly competitive? €
The following figure shows the revenue curves of a monopolist Figure 11.6 5000- 4000 Pnce ($) 2500- 0 200 D: Average revenue MR: Marginal revenue 400 O $500.000 O $300,000 O $350,000 O $250,000 O $1,000,000 MR Quantity D In Figure 11.6, assume that marginal costs are constant at $2,500 and fixed costs are 0. What would be the amount of consumer surplus if the market was perfectly competitive? €
Chapter13: Monopoly And Antitrust
Section: Chapter Questions
Problem 5P
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K The following figure shows the revenue curves of a monopolist: Figure 11.6 5000 Price ($) 4000- 2500- 0 D. Average revenue MR: Marginal revenue O $500,000 200 O $300,000 O $350,000 O $250,000 In Figure 11.6, assume that marginal costs are constant at $2,500 and fixed costs are 0. What would be the amount of consumer surplus if the market was perfectly competitive ? 400 O $1,000,000 MR Quantity 102°F Sunny
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