Consider a monopolist with a total cost of TC=9+Q and marginal cost of $1 (MC=1). The...

Consider a monopolist with a total cost of TC=9+Q and marginal cost of $1 (MC=1). The monopolist faces a demand curve of P=11-Q.

1. Graph the monopolist

2. Find price and quantity that the monopolist charges.

3. Find the profit and consumer surplus.

4. Find the deadweight loss to welfare.

Solutions

Expert Solution

Rahul Sunny answered 3 weeks ago

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