THERE ARE TOTAL OF TWO PARTS FOR THIS ASSIGNMENT PLEASE SEPARATE THE ANSWERS FOR

THERE ARE TOTAL OF TWO PARTS FOR THIS ASSIGNMENT
PLEASE SEPARATE THE ANSWERS FOR EACH PART.
EX) PART 1) —– PART 2)—-
I HAVE ATTACHED A EXAMPLE ANSWERS FROM THE CHEGG (ONLINE) FOR PART 1
SO YOU CAN JUST PARAPHRASE IT AND MAKE IT INTO YOUR OWN WORD BASED ON THE ANSWERS THAT I PROVIDED YOU FOR
PART 1.
PART 1)
Please answer the following questions:
1) List the five characteristics of pure monopoly.
2) Describe the demand curve facing a pure monopoly and how it differs from that facing a firm in a purely competitive market.
3) Explain why the marginal revenue is equal to the price in pure competition but not in monopoly.
4) Use the chart to solve the following:
Calculate the Marginal Cost at Q 100?
Calculate the Marginal Cost at Q 200?
Calculate the Average Total Cost at Q 200?
Q
P=D
TC
0
$30.00
$3,000
100
$20.00
$4,500
200
$10.00
$6,500
PART 2)
Please read the article:
http://www.priceintelligently.com/blog/bid/184451/How-Starbucks-Uses-Pricing-Strategy-for-Profit-Maximization
1) What is a purely competitive market?
2) Why type of market would Starbucks belong to?
3) Why do you think Starbucks increased its prices by 1%, and do you believe that this action is risky, or a safe bet?

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