Pls solve sub questions 1, 2 and 3 only Suppose that the monopolist faces a lineardemand curve, P(Q) = A — BQ. Furthersuppose that the monopolist has the marginalcost function: MC = Q.1. Find the revenue as a function of Q.2. Find the marginal revenue as a function of Q.3. Find the quantity that maximizes themonopolist's profit as a function of A and B.4. Find the equilibrium price as a function of Aand B.5. Let's use some numbers. Suppose A= = 10and B = 2. Solve for the profit-maximizingquantity and price.6. Using A = 10 and B = 2, draw a demandcurve and a marginal revenue function aswell as marginal cost. Shade the deadweightloss. Also label clearly the profit-maximizingquantity and price chosen by the monopolist.7. What would have been the competitiveequilibrium price and quantity (hint: equateMC and the demand function)? Label thecompetitive equilbrium point. Also computethe size of the deadweight loss due toinefficiency casued by the monopolistbehavior.

Monopoly is a form of market structure in which a single firm sells a commodity for which there are…

Suppose that the monopolist faces a linear demand curve, P(Q) = A – BQ. Further suppose that the monopolist has the marginal cost function: MC = Q. 1. Find the revenue as a function of Q. 2. Find the marginal revenue as a function of Q. 3. Find the quantity that maximizes the monopolist's profit as a function of A and B.

Suppose that the monopolist faces a linear demand curve, P(Q) = A – BQ. Further suppose that the monopolist has the marginal cost function: MC = Q. 1. Find the revenue as a function of Q. 2. Find the marginal revenue as a function of Q. 3. Find the quantity that maximizes the monopolist's profit as a function of A and B.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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