Question

In: Economics

6: Demand: P = 15 - Q, MR = 15 - 2Q, MC = 3 What...

6: Demand: P = 15 - Q, MR = 15 - 2Q, MC = 3 What is the monopoly's profit?

36

15

72

18

7:Demand: P = 15 - Q, MR = 15 - 2Q, MC = 3 What is the monopoly's deadweight loss?

32

18

22

36

8:Demand: P = 15 - Q, MR = 15 - 2Q, MC = 3 What is the loss in output moving from a perfectly competitive outcome to the monopoly outcome?

4

6

15

3

9: Demand: P = 15 - Q, MR = 15 - 2Q, MC = 3 What is price differential between the perfectly competitive outcome and the monopoly outcome?

6

12

3

9

10:A monopoly is called allocatively inefficient because it _____________________________________.

a:expands output relative to the perfectly competitive outcome

b:restricts output relative to the perfectly competitive outome

c:increases consumer surplus relative to the perfectly competitive outcome

d:price gouges relative to the perfectly competitive outcome

Expert Solution

Rahul Sunny answered 2 years ago

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