Question: Consider a monopolist with linear demand curve given by P(Y)=a-bY (note: this is the inverse demand), and C(Y)=cY (which is the cost function, where c>0).

Consider a monopolist with linear demand curve given by P(Y)=a-bY (note: this is the inverse demand), and C(Y)=cY (which is the cost function, where c>0). a) What is the equilibrium quantity, price, and monopoly profit? b) What are the values of consumer surplus, producer surplus and deadweight loss? Show these graphically. c) What is the maximum quantity the monopolist would be willing to sell? d) Show that the monopolist's markup of price over marginal cost is inversely related to the price elasticity of demand. Can you determine this amount? If so, what is it?

What is your understanding of quality data? How does it affect business decision making? Analyze and discuss the various threats to data handling and quality, and the steps to be taken to assess and manage the quality of the data used for master data. Explain why data infrastructure is important for master data management. Include any experiences you have encountered personally, including the remedies that were undertaken to resolve the data quality issues you describe. What are the most important attributes and functionalities of data cleansing software? Are those equally important in any business setting?

b) What are the values of consumer surplus, producer surplus and deadweight

loss? Show these graphically. c) What is the maximum quantity the monopolist

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