Chapter 10 Work
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BUDE
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1. What quantity will the monopoly produce?
2. What price will the monopoly charge?
3. What quantity would a competitive market produce?
4. What price would a competitive market charge?
5. Competitive equilibrium happens at what point?
6. What area represents consumer surplus in the monopoly?
7. What area represents consumer surplus in an allocatively efficient market?
8. Identify the area of deadweight loss.
9. What is the total revenue produced by the monopoly.
10. What is the total revenue produced in the competitive market?
11. Identify the monopoly's profit.
12. What is the profit maximizing price for the monopoly?
13 What is the profit maximizing price for a competitive firm?
14. If a firm wants to break even, what quantity should it produce?
15. What is the revenue maximizing quantity for the monopoly?
16. What segment of the demand curve is elastic?