A small monopoly manufacturer of widgets has a constant marginal cost of $15. The demand for this firm's widgets is Q=105-2P Given the above information, compute the social cost of this firm's monopoly power The social cost is $ (Round your response to the nearest penny)

A small monopoly manufacturer of widgets has a constant marginal cost of $15. The demand for this firm's widgets is Q=105-2P Given the above information, compute the social cost of this firm's monopoly power The social cost is $ (Round your response to the nearest penny)

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter13: Antitrust And Regulation

Section: Chapter Questions

Problem 11SQP

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Question

A small monopoly manufacturer of widgets has a constant marginal cost of $15. The demand for this firm's widgets is
Q=105-2P
Given the above information, compute the social cost of this firm's monopoly power.
The social cost is $
(Round your response to the nearest penny.)

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