--%>

Question related to Monopoly

Refer to the following figure . Assume the graphs represent the demand for use of a local golf course for which there is no significant competition (it has a local monopoly); P indicates the price of a round of golf; Q is the quantity of rounds "sold" each day. If the left graph depictes the demand during weekdays, and the right graph the weekend demand, this profit-maximizing golf course will earn how much economic profit over the course of a full seven-day week? A) $4200 B) $3700 C) $3400 D) $2700

2383_hgfdds.png

   Related Questions in Microeconomics

  • Q : Increase profit of cartel-member A

    A member of a cartel would be probably to increase its profits by: (1) undercutting the prices of other cartel members when this did not get caught. (2) setting its price above which of other cartel members. (3) aggressive nonprice marketing promotion

  • Q : Example of bilateral monopoly The most

    The most excellent example of bilateral monopoly from the given list would be the condition of negotiations among: (i) U.S. Immigration Service and undocumented workers from Mexico. (ii) Fast food franchises and workers who are high-school dropouts. (

  • Q : Shut down point in the short run A

    A monopolist will shut down during the short run when its equilibrium price as: (w) equals short-run average cost. (x) exceeds marginal cost. (y) is less than average variable cost. (z) is less than average fixed cost.

    Q : Close down a purely competitive firm in

    Within the short run, there a purely competitive firm will close down its plant(s) and manufacture nothing when: (i) this makes no pure economic profits. (ii) normal profits were unattainable. (iii) P < ATC at all output levels. (iv) accounting pro

  • Q : Standard categories of economic

    Standard categories of economic discrimination which tend to make income less equally distributed do not comprise: (1) wage discrimination (2) employment discrimination (3) occupational discrimination (4) human capital discrimination (5) income discri

  • Q : Markets in a capitalistic economy

    Markets within a capitalistic economy answer the “What?” question with: (1) government subsidies which promote new technologies. (2) giving those goods which consumers demand. (3) misleading advertising to persuade consumers to buy. (4) di

  • Q : Competitive Markets-Unions of labor Can

    Can someone please help me in finding out the accurate answer from the following question? The purely competitive labor markets are not characterized through: (w) Most of the individual buyers and sellers of the labor services. (x) Wages equivalent to the marginal res

  • Q : Tacit collusion by oligopolists Tacit

    Tacit collusion through oligopolists is possible when: (w) agreed to by the government. (x) a price leader is visible. (y) the oligopolists succeed in forming a cartel. (z) very few firms control the market. How ca

  • Q : Opportunity Cost to the User An

    An opportunity cost to the user, although not to society as an entire, which would be the: (w) accounting profits realized by a firm of CPAs. (x) interest paid by a borrower for a bank loan. (y) rent paid by a sharecropper to a plantation owner. (z) m

  • Q : Economic Rent of Demand Curve When D 0

    When D0 is the initial demand curve for land in this illustrated figure, within equilibrium the economic rent realized through the landowner will be: (1) zero. (2) area Ocef. (3) area cae. (4) area Oaef. (5) a pure economic