ECON 101 SEU The Output Level and The Price Charged to Consumers Essay

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Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
College of Administrative and Financial Sciences
Assignment 3
Deadline: 06/05/2022 @ 23:59
(To be posted/released to students on BB 17/04/2022)
Course Name: Microeconomics
Course Code: ECON101
Student’s Name:
Semester: 2nd
CRN:
Student’s ID Number:
Academic Year: 1442/1443 H, 2nd Term
For Instructor’s Use only
Instructor’s Name: Shahad Alsodmi
Students’ Grade: /10
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
•
•
This assignment is an individual assignment.
Due date for Assignment 3 is 06/05/2022
•
The Assignment must be submitted only in WORD format via allocated folder.
•
Assignments submitted through email will not be accepted.
•
Students are advised to make their work clear and well presented, marks may be reduced for poor
presentation. This includes filling your information on the cover page.
•
Students must mention question number clearly in their answer.
•
Late submission will NOT be accepted.
•
Avoid plagiarism, the work should be in your own words, copying from students or other
resources without proper referencing will result in ZERO marks. No exceptions.
•
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures
containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
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Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
College of Administrative and Financial Sciences
Assignment-3
Maximum Marks (10 Marks)
1. Explain the effects of low price-guarantee on the price. (2 Marks)
2. What do you understand by discriminatory monopoly? Bring out the conditions that enables the
monopoly firm to charge different prices for its product in different markets. (2 Marks)
3. The figure below shows the demand and cost curves for a monopolist. Assume there are no fixed
costs in the market and an unlimited number of units of the product can be produced at a marginal
cost of $10 per unit. As a result average total cost and marginal cost are the same.
Price
$15
$10
a
b
e
c
d
f
ATC = MC =10
Demand
25
40
MR
Quantity
Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
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College of Administrative and Financial Sciences
1. Find the output level and the price charged to consumers, when the monopolist is maximizing
its profit. (2 Marks)
2. Find the monopoly’s total economic profit when it is maximizing its profit. (2 Marks)
3. What would be the market price and the market quantity, if the industry in the figure is perfectly
competitive (Assuming a constant cost industry)? (2Marks)
Answer……………

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Tags:
economics

output level

maximizing its profit

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