ECON 201- Ch.12 Section 3 Questions

Figure: Maximum Willingness to Pay Reference: Ref 13-1 (Figure: Maximum Willingness to Pay) Refer to the figure. What is the profit-maximizing quantity for this monopolist?

110

Figure: Monopolist 3 Reference: Ref 13-5 (Figure: Monopolist 3) In this figure, the profit-maximizing monopolist sells

9 units of output at $11 per unit

Figure: Maximum Willingness to Pay Reference: Ref 13-1 (Figure: Maximum Willingness to Pay) Refer to the figure. What is the maximum price that the consumer is willing to pay for 100 units?

$100

Figure: Monopoly Profits Reference: Ref 13-3 (Figure: Monopoly Profits) Refer to the figure. The monopolist earns a profit of

$420.

Figure: Monopolist 3 Reference: Ref 13-5 (Figure: Monopolist 3) In this figure, the monopolist's maximum profit is:

$45.

Figure: Monopolist 4 What is the profit-maximizing price and output level for the monopolist in this figure?

P = $14; Q = 6

Figure: Monopoly Profits Reference: Ref 13-3 (Figure: Monopoly Profits) Refer to the figure. What is the monopolist's optimal price and output level?

P = $16.50; Q = 40

Figure: Maximize Monopoly Profits Reference: Ref 13-4 (Figure: Maximize Monopoly Profits) Refer to the figure. The monopolist will maximize its profit by charging a price equal to

P2

Figure: Maximize Monopoly Profits Reference: Ref 13-4 (Figure: Maximize Monopoly Profits) Refer to the figure. The monopolist will maximize its profit by producing at output equal to

Q2

Figure: Maximum Willingness to Pay Reference: Ref 13-1 (Figure: Maximum Willingness to Pay) Refer to the figure. What is the profit that the monopolist is earning?

There is not enough information to answer the question.