# 2 Econ projects

please using the economic knowledge and help me finished 2 Econ project (in the attachment). thanks
econ1proejct_competetive_market.xlsx

econproject2_monopoly.xlsx

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Name:
Total points50 points (12.5pts *4)
In a competitive market, the market demand curve is Q = 28 – 2p and the market supply curve is Qs = -8 + 2
a. Determine the quantity demanded and quantity supplied for p = \$4, 5, 6, … , 14. Determine the equilibrium quantity
and price.
b. For prices p = \$4, 5, 6,  , 14, determine the consumer surplus. How does an increase in price affect the consumer
surplus?
c. For prices p = \$4, 5, 6,…, 14, determine the producer surplus. How does an increase in price affect the producer
surplus?
d. Suppose the government limits the quantity traded in the market to 6 units. Calculate the resulting deadweight loss.
= -8 + 2p.
mine the equilibrium quantity
n price affect the consumer
price affect the producer
In a competitive market, the market demand curve is Q = 28 – 2p and the market supply curve is Qs = -8 + 2
Determine the quantity demanded and quantity supplied for p = \$4, 5, 6, …, 14. Identify the equilibrium quantity and
price by highlighting the corresponding row. For prices p = \$4, 5, 6, …, 14, determine the consumer surplus and the
Market Demand:
Qd = 28 – 2p
Market Supply:
Qs = -8 + 2p
p
4
5
6
7
8
9
10
11
12
13
14
Qd
Qs
How does an increase in price affect the con
CS
PS
How does an increase in price affect the pro
Suppose the government limits the quantity
-8 + 2p.
e equilibrium quantity and
onsumer surplus and the
an increase in price affect the consumer surplus? Type your answer (in this text box) below.
an increase in price affect the producer surplus? Type your answer (in this text box) below.
he government limits the quantity traded in the market to 6 units. Calculate the resulting deadweight loss. Type
er (in this text box) below.
Name:
Total points
50 points (25pts *2)
A monopoly faces the inverse demand function: p = 100  2Q, with the corresponding marginal revenue function,
MR = 100  4Q. The firms total cost of production is C = 50 + 10Q + 3Q 2, with a corresponding marginal cost of
MC = 10 + 6Q.
a. Create a spreadsheet for Q =1, 2, 3, , 15. Using the MR = MC rule, determine the profit-maximizing output
and price for the firm and the consequent level of profit.
b. Now suppose that a specific tax of 20 per unit is imposed on the monopoly. What is the effect on the
monopolys profit-maximizing price?
ginal revenue function,
nding marginal cost of
maximizing output
effect on the
A monopoly faces the inverse demand function: p = 100  2Q, with the corresponding marginal revenue
function, MR = 100  4Q. The firms total cost of production is C = 50 + 10Q + 3Q 2, with a corresponding
marginal cost of MC = 10 + 6Q.
a. Create a spreadsheet for Q =1, 2, 3, , 15. Using the MR = MC rule, identify the profit-maximizing
output and price for the firm and the consequent level of profit by highlighting the corresponding row.
Inverse Demand Function_P=100-2Q
Marginal Revenue:
MR=100-4Q
Total Cost:
C1 = 3Q2 + 10Q + 50
Marginal Cost:
MC1 = 6q+10
Q
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
p
e
R
MR
C1
MC1
p1
responding
A monopoly faces the inverse demand function: p = 100  2Q, with the corresponding marginal revenue
function, MR = 100  4Q. The firms total cost of production is C = 50 + 10Q + 3Q², with a corresponding
marginal cost of MC = 10 + 6Q.
b. Now suppose that a specific tax of 20 per unit is imposed on the monopoly. Fill in the table below (with
the 2 subscript denoting the cost, marginal cost, and profit level with the specific tax). Indicate the effect
on the monopolys profit-maximizing price by highlighting the corresponding row.
Inverse Demand Function_P=100-2Q
Marginal Revenue:
MR=100-4Q
Total Cost:
C1 = 3Q2 + 10Q + 50
Marginal Cost:
MC1 = 6q+10
Q
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
p
R
MR
C1
MC1
p1
C2
MC2
p2
responding
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