A market faces the following demand curve: Q = 10 - 1/5P, and a cost function: TC = 25Q^2 - 250Q + 200. a) Calculate the price and quantity that maximize profits if the company operates as a monopolist. Calculate the total profit. b) If the government removes entry barriers and the market becomes perfectly competitive, calculate the price, quantity, and profit of the company. c) GRAPH and mark the changes in consumer surplus, producer surplus, and market efficiency. PLEASE I NEED THE GRAPH. AND ALSO RESPOND IN ORDER PLEASE, STAY WHICH IS A WHICH B AND WHICH IS C
A market faces the following demand curve: Q = 10 - 1/5P, and a cost function: TC = 25Q^2 - 250Q + 200. a) Calculate the price and quantity that maximize profits if the company operates as a monopolist. Calculate the total profit. b) If the government removes entry barriers and the market becomes perfectly competitive, calculate the price, quantity, and profit of the company. c) GRAPH and mark the changes in consumer surplus, producer surplus, and market efficiency. PLEASE I NEED THE GRAPH. AND ALSO RESPOND IN ORDER PLEASE, STAY WHICH IS A WHICH B AND WHICH IS C
Chapter28: Antitrust And Regulation
Section: Chapter Questions
Problem 8E
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Economics
A market faces the following demand curve: Q = 10 - 1/5P, and a cost function: TC = 25Q^2 - 250Q + 200.
a) Calculate the price and quantity that maximize profits if the company operates as a monopolist. Calculate the total profit.
b) If the government removes entry barriers and the market becomes
c) GRAPH and mark the changes in
PLEASE I NEED THE GRAPH. AND ALSO RESPOND IN ORDER PLEASE, STAY WHICH IS A WHICH B AND WHICH IS C
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