Question 1: Revenue MC and costs $34 ATC 29.50 27 21 13 Demand MR 600 800 940 1160 Quantity Assume this is a monopoly. What is the market equilibrium output in this market? Question 2: Revenue and costs MC $34 ATC 29.50 27 21 13 Demand MR 600 800 940 1160 Quantity Assume the above graph is a monopoly. What is the deadweight loss if this firm maximizes profits? If there is no deadweight loss, put 0 in for your answer. Assume linearity.

Question 1: Revenue MC and costs $34 ATC 29.50 27 21 13 Demand MR 600 800 940 1160 Quantity Assume this is a monopoly. What is the market equilibrium output in this market? Question 2: Revenue and costs MC $34 ATC 29.50 27 21 13 Demand MR 600 800 940 1160 Quantity Assume the above graph is a monopoly. What is the deadweight loss if this firm maximizes profits? If there is no deadweight loss, put 0 in for your answer. Assume linearity.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What is the profit maximizing quantity of output for this pure monopoly?