monopoly question. intermed. micro

Project Description:

11.7 suppose a perfectly competitive industry can produce roman candles at a constant marginal cost of $10 per unit. once the industry is monopolized, marinal costs rise to $14 per unit because $2 per unit must be paid to politicians to ensure that only this firm receives a roman candle license. suppose the market demand for roman candles is given by:
qd=1000-50p
and the marginal revenue function by
mr=20-q/25
a. calculate the perfectly competitive and monopoly outputs and prices.
b. calculate the total loss of consumer surplus from monopolization of roman candle production.
c. graph and discuss your results.
Skills Required:
Project Stats:

Price Type: Negotiable

Expired
Total Proposals: 10
1 Current viewersl
25 Total views
Project posted by:

Proposals

Proposals Reputation Price offered
  • 4.5
    94 Jobs 58 Reviews
    $0 in 0 Day
  • 4.1
    70 Jobs 30 Reviews
    $15 in 0 Day
  • 4.3
    309 Jobs 189 Reviews
    $10 in 0 Day
  • 5.0
    5 Jobs 3 Reviews
    $0 in 0 Day
  • 4.8
    232 Jobs 193 Reviews
    $0 in 0 Day
  • 4.9
    95 Jobs 45 Reviews
    $0 in 0 Day
  • 4.5
    355 Jobs 236 Reviews
    $0 in 0 Day
  • 3.3
    16 Jobs 7 Reviews
    $0 in 0 Day