Question: ( 2 0 ^ { text { th } } ) Assignment Consider a firm with a sort run total cost of

\(20^{\text {th }}\) Assignment
Consider a firm with a sort run total cost of \( T C=50+1/2 Q^{2}\)-and marginal cost: \(\mathrm{MC}=\mathrm{Q}\)-- facing a market demand curve of \(\mathrm{P}=90-\mathrm{Q}\).
1. Graph and calculate the short run profit if the market is a monopoly.
2. Graph and calculate the welfare and any deadweight loss if the market is a monopoly in the long run.
3. Graph and calculate - using the comparative statics method the long run welfare if the market is perfectly competitive.
4. How many firms would be in a perfectly competitive equilibrium?
\ ( 2 0 ^ { \ text { th } } \ ) Assignment

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