7 (g) Let demand for car batteries be such that Q = 100 – 3P. As-sume constant marginal costs of 15. Compute the equilibriumprice, quantity, consumer surplus, producer surplus and if rele-vant deadweight loss for:i. A perfectly competitive firmii. A monopolyiii. Two firms engaged in Cournot Competition.iv. Two firms engaged in Bertrand Competition.

For perfectly competitive flag, Equilibrium condition is p = me so, P = MC Emplees 50 - Q/3 = 15…

(g) Let demand for car batteries be such that Q = sume constant marginal costs of 15. Compute tl price, quantity, consumer surplus, producer surpl vant deadweight loss for: i. A perfectly competitive firm ii. A monopoly

(g) Let demand for car batteries be such that Q = sume constant marginal costs of 15. Compute tl price, quantity, consumer surplus, producer surpl vant deadweight loss for: i. A perfectly competitive firm ii. A monopoly

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

(g) Let demand for car batteries be such that Q = 100 – 3P. As-
sume constant marginal costs of 15. Compute the equilibrium
price, quantity, consumer surplus, producer surplus and if rele-
vant deadweight loss for:
i. A perfectly competitive firm
ii. A monopoly
iii. Two firms engaged in Cournot Competition.
iv. Two firms engaged in Bertrand Competition.

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