Suppose the market demand function (expressed in dollars) for a normal product is P= 90-q,  and the marginal cost (in dollars) of producing it is MC = 1q, where P is the price of the product  and q is the quantity demanded and/or supplied  1. Compute the consumer surplus and the producer surplus assuming this same product was  supplied by a monopolist. Note that the monopolist’s marginal revenue curve has twice  the slope of the demand curve. 2.  Compare and contrast economic surpluses under monopoly market vs competitive  market.

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