Question: A. How many units will be produced and what will be price if this is a profit maximizing competitive firm? B. How many units will

A. How many units will be produced and what will be price if this is a profit maximizing competitive firm?

B. How many units will be produced and what will be the price if it?s a profit maximizing monopoly?

C. What would be amount of deadweight loss if this is a monopoly?

D. If price is $30, when quantity is zero, what will be the amount of consumer surplus if it is a competitive market? What will be the amount of consumer surplus if it is a monopoly?

E. Using the graph above, and the information obtained for D, explain how monopoly produces less, charges higher price, and creates dead weight loss to society

Price $20 15- 10 100 150 Marginal Cost Demand 200 Marginal Revenue

Price $20 15- 10 100 150 Marginal Cost Demand 200 Marginal Revenue Quantity

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