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2 weeks ago Edited: 2 weeks ago, bio_man

Question 1.

Figure 16-5




Refer to Figure 16-5. Suppose the firm represented in the diagram decides to practice perfect price discrimination. What is the total revenue collected by the firm?

• $6,720

• $7,680

• $10,240

• $13,440

Question 2.

Figure 16-5




Refer to Figure 16-5. Suppose the firm represented in the diagram decides to act as a monopolist and charge a single price. What is the profit-maximizing quantity produced and what is the price charged?

Q = 240 units; P = $28

Q = 320 units; P = $24

Q = 480 units; P = $16

Q = 560 units; P = $12
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Microeconomics
Edition: 7th
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Answer 1

$13,440

Answer 2

Q = 320 units; P = $24
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