An industry A has an inverse demand function: P = 120 – Q2 and a total cost function: TC = 30Q Fill the following table after calculating; 1. Consumer Surplus 2. Profits 3. Total Social Welfare 4. Deadweight Loss In both perfect competition and pure monopoly

An industry A has an inverse demand function: P = 120 – Q2 and a total cost function: TC = 30Q Fill the following table after calculating; 1. Consumer Surplus 2. Profits 3. Total Social Welfare 4. Deadweight Loss In both perfect competition and pure monopoly

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition

Section: Chapter Questions

Problem 9E

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Question

An industry A has an inverse
demand function:
P = 120 – Q2
and a total cost function:
TC = 30Q
%3D
Fill the following table after
calculating;
1. Consumer Surplus
2. Profits
3. Total Social Welfare
4. Deadweight Loss
In both perfect competition and pure
monopoly

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