1) Consider a monopolist with demand Q = 120-2p and marginal cost MC = 40. Determine...

1) Consider a monopolist with demand Q = 120-2p and marginal cost MC = 40. Determine profit, consumer surplus, and social welfare in the following three cases:

a)single-price monopolist

b)perfect price discrimination

c)Consider that the firm is operating in a perfectly competitive market. Find the profit, consumer surplus, and social welfare under this situation.

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Expert Solution

Rahul Sunny answered 2 years ago

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