9. A monopolist faces market demand Q=30-P where P is price and Q is output. It has a cost function. C(Q) = 50² 29 (a) Find the profit maximising price and quantity and the resulting profit to the monopoly. What is the socially optimal price? Calculate the deadweight loss (DWL) due to the monopolistic behavior of this firm. Calculate consumer surplus (CS) and producer surplus (PS). Show CS, PS, and DWL on a diagram.

9. A monopolist faces market demand Q=30-P where P is price and Q is output. It has a cost function. C(Q) = 50² 29 (a) Find the profit maximising price and quantity and the resulting profit to the monopoly. What is the socially optimal price? Calculate the deadweight loss (DWL) due to the monopolistic behavior of this firm. Calculate consumer surplus (CS) and producer surplus (PS). Show CS, PS, and DWL on a diagram.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Solve all this question......you will not solve all questions then I will give you down?? upvote.
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