Can you please help with d),e),f) 2. Monopoly, Practice QuestionFirm P is a monopolist for a new drug that makes people feel thinner. the total costfunction isC(Q) = 200 + 10Q + Q²The inverse demand function isp(Q) = 82 - Q(a) By how much do revenues increase if this firm sells one more (small) unit of output?By how much does its cost go up if it produces one more (small) unit of output?(b) What is the optimal price and quantity the monopolist should charge and sell?(c) What is the profit the monopolist makes? Should the firm shut down in the short orlong run?(d) If the company increases its price by a small fraction (let us say 1%), by whatproportion does demand go down? [Round to two decimal places.](e) What percentage of the price is due to costs and what is due to markup? [Round totwo decimal places.](f) What is the deadweight loss of the monopoly pricing compared to competitive prices?

Cost function : C(Q) = 200 + 10Q + Q2 Demand function : P(Q) = 82 - Q A monopolist optimizes its…

2. Monopoly, Practice Question Firm P is a monopolist for a new drug that makes people feel thinner, the total cost function is C(Q) 200+ 10Q + Q² The inverse demand function is p(Q) = 82-Q (a) By how much do revenues increase if this firm sells one more (small) unit of output? By how much does its cost go up if it produces one more (small) unit of output?

2. Monopoly, Practice Question Firm P is a monopolist for a new drug that makes people feel thinner, the total cost function is C(Q) 200+ 10Q + Q² The inverse demand function is p(Q) = 82-Q (a) By how much do revenues increase if this firm sells one more (small) unit of output? By how much does its cost go up if it produces one more (small) unit of output?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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