Economics Question

economics writing question and need the explanation and answer to help me learn.

Assignment No. 10: Monopoly price discrimination (MLA)
Consider a monopolistic firm selling the same product in two completely separate markets (market 1 and market 2) with the following demand schedules (BTW: assume that the numbers given are based on continuous linear demand curves in each market):
Quantity (Q1) 0 1 2 3 4 5 6 7 8
Price (P1) 24 21 18 15 12 9 6 3 0
Quantity (Q2) 0 1 2 3 4 5 6 7 8
Price (P2) 40 35 30 25 20 15 10 5 0
The marginal cost of this firm is equal to its average total cost and is constant at $15 per unit produced (note that this also means that there are no fixed costs). Based on this information use excel to calculate marginal revenues and set up diagrams that show the demand and the marginal revenue curves of this firm in each market, as well as the quantities and prices it should charge in these markets in order to maximize overall profits. (BTW: As you set up your diagrams, remember that marginal values should be placed in the middle of the range over which the marginal value is calculated).
Include your diagrams and calculations in an essay about the nature of price discrimination by Monopolies. Make sure that you include the total profit (i.e., the combined profit from the two markets) as a part of your answer and explain why exactly the firm should charge different prices in the two markets in order to maximize total profit. Also, as part of your answer, give at least 3 specific examples of price discrimination that is commonly seen from sellers with market power.
Here is an excel spreadsheet file with two examples that include the kind of diagrams, etc., that I am looking for here. The 1st example in this file has demand schedules similar to what you are looking at for Assignment 10, and 2nd example has linear demand formulas looking at the same kind of problem based on demand formulas rather than demand schedules.
Price discriminating monopoly – Excel example file-1.xlsx Download Price discriminating monopoly – Excel example file-1.xlsx
Note that this essay assignment will be reviewed for originality using Turnitin. While you do not have to confirm to any particular citation style, all direct quotes must be identified by quotation marks, along with a citation that identifies the source of the quote in question:
The assignment must be your own original work and it must be written specifically for this class. The assignment will be checked for originality using Any citation omissions will affect your assignment grade, but significantly plagiarized assignments will receive a grade of zero, with no exceptions and with no do-overs.
You must cite all your sources.
You must use quotation marks, or else use indented blocks, to identify all quotations. It is OK to paraphrase and not use direct quotes only when your language is completely different from the original, but you must still give proper credit to your sources. It is not OK to just insert a few words of your own into another writer’s text and then appropriate it without using quotation marks.
The following content is partner provided
Requirements: ECON 610 – Assignment No. 10: Monopoly price discrimination (MLA)
Quantity (Q1)01Price (P1)2421Quantity (Q2)01Price (P2)4035

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