A small monopoly manufacturer of widgets has a constant marginal cost of $15. The demand for this firm's widgets is Q=105-2P. Given the above information, compute the social cost of this firm's monopoly power The social cost is $ (Round your response to the nearest penny)

A small monopoly manufacturer of widgets has a constant marginal cost of $15. The demand for this firm's widgets is Q=105-2P. Given the above information, compute the social cost of this firm's monopoly power The social cost is $ (Round your response to the nearest penny)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A small monopoly manufacturer of widgets has a constant marginal cost of $15. The demand for this firm's widgets is
Q=105-2P.
Given the above information, compute the social cost of this firm's monopoly power
The social cost is $. (Round your response to the nearest penny.)

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