Grafting Curves
Not what you're looking for?
Here is an example of some of the problems I am having difficulty with. (This is not an actual homework problem, but understanding the concept of this example would help me to do the rest of them correctly).
A monopolist with a straight-line demand curve finds that it can sell 2 units at $12.00 each or 12 units at $2.00 each. Its fixed cost is $20.00 and its marginal cost is constant at $3.00 per unit. Please draw the MC, ATC, MR and demand curve and explain at what output level would this monopolist produce? What output level would a perfectly competitive firm produce?
Purchase this Solution
Solution Summary
The solution provides explanations and interpretations of the question given as well as drawing a demand curve.
Purchase this Solution
Free BrainMass Quizzes
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.