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2. Competition vs. Monopoly II: The Monopoly Widget Firm 20 30 40 60 Next, suppose that the industry is monopolized. 80 90 100 AC 120 Market demand (D) for the product is: P = 60 – 2Q e. Calculate the deadweight loss and label the DWL area in the diagram, The monopoly firm's total cost is: TC = 900 + 4Q? DWL = a. Write the monopoly's marginal revenue, marginal cost, and average cost equations. f. Calculate the maximum total profit (N) and show it as an area, n* = MR = MC = AC = b. Find the profit-maximizing level of output (Q*) and equilibrium P*, AC*, MR*, and MC*. Q* = Widget Monopoly P* = AC* = MR* = MC* = c. Compute total revenue (TR), total cost (TC), and maximum profit (N) in equilibrium. TR* = TC* = Coug * = TCoubernou A woooboA d. GRAPH the market situation of the monopoly: D, MR, MC, and AC. Mark equilibrium values. (Use the table to identify some values for AC.) 120

2. Competition vs. Monopoly II: The Monopoly Widget Firm 20 30 40 60 Next, suppose that the industry is monopolized. 80 90 100 AC 120 Market demand (D) for the product is: P = 60 – 2Q e. Calculate the deadweight loss and label the DWL area in the diagram, The monopoly firm's total cost is: TC = 900 + 4Q? DWL = a. Write the monopoly's marginal revenue, marginal cost, and average cost equations. f. Calculate the maximum total profit (N) and show it as an area, n* = MR = MC = AC = b. Find the profit-maximizing level of output (Q*) and equilibrium P*, AC*, MR*, and MC*. Q* = Widget Monopoly P* = AC* = MR* = MC* = c. Compute total revenue (TR), total cost (TC), and maximum profit (N) in equilibrium. TR* = TC* = Coug * = TCoubernou A woooboA d. GRAPH the market situation of the monopoly: D, MR, MC, and AC. Mark equilibrium values. (Use the table to identify some values for AC.) 120

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter14: Monopoly
Section: Chapter Questions
Problem 14.7P
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Could I have help wi th parts d-f
2. Competition vs. Monopoly II: The Monopoly Widget Firm 20 30 40 60 Next, suppose that the industry is monopolized. 80 90 100 120 AC Market demand (D) for the product is: P = 60 – 2Q e. Calculate the deadweight loss and label the DWL area in the diagram. The monopoly firm's total cost is: TC = 900 + 4Q? DWL = a. Write the monopoly's marginal revenue, marginal cost, and average cost equations. f. Calculate the maximum total profit (N) and show It as an area. MR = MC = AC = n* = b. Find the profit-maximizing level of output (Q*) and equilibrium P*, AC*, MR*, and MC*. Q* = Widget Monopoly P* = AC* = MR* = MC* = . Compute total revenue (TR), total cost (TC), and maximum profit (N) in equilibrium. TR* = E TC* : * = TCouberinou A wooobo d. GRAPH the market situation of the monopoly: D, MR, MC, and AC. Mark equilibrium values. (Use the table to identify some values for AC.) 120 100 40 60
Transcribed Image Text:2. Competition vs. Monopoly II: The Monopoly Widget Firm 20 30 40 60 Next, suppose that the industry is monopolized. 80 90 100 120 AC Market demand (D) for the product is: P = 60 – 2Q e. Calculate the deadweight loss and label the DWL area in the diagram. The monopoly firm's total cost is: TC = 900 + 4Q? DWL = a. Write the monopoly's marginal revenue, marginal cost, and average cost equations. f. Calculate the maximum total profit (N) and show It as an area. MR = MC = AC = n* = b. Find the profit-maximizing level of output (Q*) and equilibrium P*, AC*, MR*, and MC*. Q* = Widget Monopoly P* = AC* = MR* = MC* = . Compute total revenue (TR), total cost (TC), and maximum profit (N) in equilibrium. TR* = E TC* : * = TCouberinou A wooobo d. GRAPH the market situation of the monopoly: D, MR, MC, and AC. Mark equilibrium values. (Use the table to identify some values for AC.) 120 100 40 60
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