monopolist with total cost 500 - 100Q + 3Q2 and marginal cost MC = 6Q - 100 faces average revenue (demand) P = 2,000 - 2Q and hence marginal revenue MR = 2000 - 4Q. Calculate: (a) the quantity that the monopolist will sell (b) the price that the monopolist will charge (c) the competitive quantity (d) the competitive price (c) the deadweight loss from monopoly power
monopolist with total cost 500 - 100Q + 3Q2 and marginal cost MC = 6Q - 100 faces average revenue (demand) P = 2,000 - 2Q and hence marginal revenue MR = 2000 - 4Q. Calculate: (a) the quantity that the monopolist will sell (b) the price that the monopolist will charge (c) the competitive quantity (d) the competitive price (c) the deadweight loss from monopoly power
Chapter25: Monopoly
Section: Chapter Questions
Problem 14E
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A monopolist with total cost 500 - 100Q + 3Q2 and marginal cost MC = 6Q - 100 faces average revenue (demand) P = 2,000 - 2Q and hence marginal revenue MR = 2000 - 4Q. Calculate:
(a) the quantity that the monopolist will sell
(b) the
(c) the competitive quantity
(d) the competitive price
(c) the
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ISBN:
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Author:
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Publisher:
Cengage Learning