Based on market research, a film production company in Ectenia obtains the following information about the demand and production costs of its new DVD:
Demand: P= 1000 -10Q
Total Revenue: TR= 1000Q- 10Q^2
Marginal Revenue: MR= 1000- 20Q
Marginal Cost: MC= 100+10Q
Scenario Price (Dollars) Quantity (DVDs)
Maximizes the company's profit:
Maximizes social welfare:
The deadweight loss from the monopoly is $ .
Suppose, in addition to the foregoing costs, the director of the film has to be paid. The company is considering four options:
I. A flat fee of 2,000 Ectenian dollars
II. 50 percent of the profits
III. 150 Ectenian dollars per unit sold
IV. 50 percent of the revenue
Answers: 2
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Based on market research, a film production company in Ectenia obtains the following information abo...
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