The demand curve for a certain good is P = 100 Q. The marginal cost for
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The demand curve for a certain good is P = 100 − Q. The marginal cost for a monopolist is MC(Q) = Q, for Q ⩽ 30. The maximum that can be supplied in this market is Q = 30, that is, the marginal cost is infinite for Q > 30.
a) What price will the profit-maximizing monopolist set?
b) What is the deadweight loss due to monopoly in this market?
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