Assume the demand and total cost functions for soccer balls are given in the following form: Demand: P = 120 – 20 and Total Cost: TC = 10Q + Q4. where Q is quantity and P is the price measured in dollars. d.... *arnott ( punts) nd DWI in the compelitivn markat Show them on a p- c) How many soccer balls will the monopolist produce? At what price will they be sold? d) Calculate CS, PS and DWL in the monopolistic market. Show them on a graph.
Assume the demand and total cost functions for soccer balls are given in the following form: Demand: P = 120 – 20 and Total Cost: TC = 10Q + Q4. where Q is quantity and P is the price measured in dollars. d.... *arnott ( punts) nd DWI in the compelitivn markat Show them on a p- c) How many soccer balls will the monopolist produce? At what price will they be sold? d) Calculate CS, PS and DWL in the monopolistic market. Show them on a graph.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Assume the demand and total cost functions for soccer balls are given in the following form: Demand: P = 120 – 20 and Total Cost: TC = 10Q + Q4.
where Q is quantity and P is the price measured in dollars.
tha nman
markainiA IL.
arnoL: Points)
** nd DWI in the competitivn markat Chow them on
c) How many soccer balls will the monopolist produce? At what price will they be sold?
d) Calculate CS, PS and DWL in the monopolistic market. Show them on a graph.
V....
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