Consider a monopolists linear inverse demand curve: p=30-q and a total cost curve of: TC=10+2q^2 a) Find
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Question:
Consider a monopolists linear inverse demand curve:
p=30-q
and a total cost curve of:
TC=10+2q^2
a) Find the monopolists equilibrium quantity, price, and profit.
b) calculate consumer surplus, producer surplus, and welfare in a monopoly market setting.
c) suppose that the monopolist acted as if she were in a perfectly competitive market. Find the monopolists equilibrium quantity, price and profit.
Related Book For
Economics of Strategy
ISBN: 978-1118319185
6th edition
Authors: David Besanko, David Dranove, Mark Shanley, Scott Schaefer
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