Question 1: The following graph contains curves that are faced by a monopolist called SoftMicro. 16 MC 14 AC Im 11 10 9 MR 30 50 80 100 a) What is the profit-maximizing quantity and price for SoftMicro if it is a single-price monopoly? b) What is the monopolist's profit and consumer surplus in part (a)? Give me the letters of the shape of the surpluses. c) What is the price and quantity if the industry is perfectly competitive.

Question 1: The following graph contains curves that are faced by a monopolist called SoftMicro. 16 MC 14 AC Im 11 10 9 MR 30 50 80 100 a) What is the profit-maximizing quantity and price for SoftMicro if it is a single-price monopoly? b) What is the monopolist's profit and consumer surplus in part (a)? Give me the letters of the shape of the surpluses. c) What is the price and quantity if the industry is perfectly competitive.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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