JNU SIS 2013....

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JNU SIS 2013....

MohitG
4. A monopolist has constant marginal costs at Re 1 per unit, and zero fixed costs. It faces the demand curve
             D(p) =100/P ;p<=20 where p is price.
                           0  ;p > 20
What is the profit maximizing choice of output?
(a) 20
(b) 5
(c) 1/99
(d) 10

S. If the government could set a price ceiling on the above monopolist (in Question No. 4)
in order to force it to act as a competitor, what price should it set?
(a) 10
(b) 20
(c) 1
(d) None of the above

11. Consider five urns numbered 1 to 5, where each urn contains 10 balls. Urn 1 has i
defective balls and (10 - i) nondefective balls. In an experiment, an urn is selected at
random, and then a ball is selected at random from that urn. What is the probability
that a defective ball is selected? If the ball is defective, what is the probability that it
came from urn 2?
(a) 7/10; 2/5
(b) 3/10; 2/15
(c) 1/5; 3/25
(d) 3/5; 2/5

Need to confirm if the answers for Q4 AND Q5 are options (b) 5 and option (c) 1 respectively.
And need detailed solution for Q11  
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Re: JNU SIS 2013....

vandita24x7
Question 11 was printed wrong, the second line should have read, Urn i has i defective balls. Now u will get your answer.  


On Sun, Mar 9, 2014 at 5:54 PM, Lucifer [via Discussion forum] <[hidden email]> wrote:
4. A monopolist has constant marginal costs at Re 1 per unit, and zero fixed costs. It faces the demand curve
             D(p) =100/P ;p<=20 where p is price.
                           0  ;p > 20
What is the profit maximizing choice of output?
(a) 20
(b) 5
(c) 1/99
(d) 10

S. If the government could set a price ceiling on the above monopolist (in Question No. 4)
in order to force it to act as a competitor, what price should it set?
(a) 10
(b) 20
(c) 1
(d) None of the above

11. Consider five urns numbered 1 to 5, where each urn contains 10 balls. Urn 1 has i
defective balls and (10 - i) nondefective balls. In an experiment, an urn is selected at
random, and then a ball is selected at random from that urn. What is the probability
that a defective ball is selected? If the ball is defective, what is the probability that it
came from urn 2?
(a) 7/10; 2/5
(b) 3/10; 2/15
(c) 1/5; 3/25
(d) 3/5; 2/5

Need to confirm if the answers for Q4 AND Q5 are options (b) 5 and option (c) 1 respectively.
And need detailed solution for Q11  



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Re: JNU SIS 2013....

Ashima
How did you get the 4th one?

MR = MC

P=100/Q

TR= 100

MR=0

MC= Q


???
Please help!
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Re: JNU SIS 2013....

The Villain
In reply to this post by MohitG
@ashima
For such questions you have to check profit at each output..
case 1..if Q=20 then P=5 acc to demand function
(TR)Total revenue=100 and (TC)Total cost is 20
(NP)Net Profit=100-20=80
case 2..if Q=5 then P=20
TR=100, TC=5
NP=95
case 3..if Q= 1/99 then P>20 (not possible coz of constraint on demand function if P>20 then Q=0)
case 4...if Q=10 then P=10
TR=100, TC= 10
NP=90

therefore.ans is 5
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Re: JNU SIS 2013....

Ashima
Okay thanks :)
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