monopolist with total cost 500 - 100Q + 3Q2 and marginal cost MC = 6Q - 100 faces average revenue (demand) P = 2,000 - 2Q and hence marginal revenue MR = 2000 - 4Q. Calculate: (a) the quantity that the monopolist will sell (b) the price that the monopolist will charge (c) the competitive quantity (d) the competitive price (c) the deadweight loss from monopoly power

Economics For Today
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ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter9: Monopoly
Section: Chapter Questions
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A monopolist with total cost 500 - 100Q + 3Q2 and marginal cost MC = 6Q - 100 faces average revenue (demand) P = 2,000 - 2Q and hence marginal revenue MR = 2000 - 4Q. Calculate:

(a) the quantity that the monopolist will sell

(b) the price that the monopolist will charge

(c) the competitive quantity

(d) the competitive price

(c) the deadweight loss from monopoly power

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