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In: Economics

1. Demand: P=120-Q    Total Cost: TC=Q2 Marginal Revenue:  MR=120-2Q           Marginal Cost: MC=2Q What is the amount of profit...

1. Demand: P=120-Q    Total Cost: TC=Q2

Marginal Revenue:  MR=120-2Q           Marginal Cost: MC=2Q

What is the amount of profit for this monopolist?

2. Demand: P=120-Q                                 Total Cost: TC=Q2

Marginal Revenue:  MR=120-2Q           Marginal Cost: MC=2Q

For this monopolist, the profit-maximizing price is ________ and the profit-maximizing quantity is _________.

3. Demand: P=120-Q                                 Total Cost: TC=Q2

Marginal Revenue:  MR=120-2Q           Marginal Cost: MC=2Q

Compared to perfect competition where P=MC, what is the amount of deadweight loss caused by this monopolist _________.

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Rahul Sunny answered 2 years ago
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