Question: Consider the same market described in Calculus Problem 1, but now assume that test preparation services are monopolized. Also assume that the monopolist's costs are

Consider the same market described in Calculus Problem 1, but now assume that test preparation services are monopolized. Also assume that the monopolist's costs are given by
C = 15Q + Q2/4
How does the monopoly output compare with the socially efficient output? Calculate the deadweight loss of monopoly. Draw a figure to illustrate your answer.

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