Question: Need help with this problem. Chapter 4 Monopoly and Dominant Firm Model 4. (16 points) A monopolist faces an inverse demand curve P(Q)= 115-4Q and

Need help with this problem.

Chapter 4 Monopoly and Dominant Firm Model 4. (16 points) A monopolist faces an inverse demand curve P(Q)= 115-4Q and cost curve of C(Q)=Q25Q+100. (i) Calculate the prot maximizing output and price for the monopolist. (ii) What are monopoly prots, monopoly operating prots (producer surplus), and the consumer surplus? (iii) Calculate industry output, price, consumer surplus, industry prots, and producer surplus if this rm operated as a competitive rm and sets price equal to marginal cost. (iv) Calculate the dead weight loss sue to monopoly

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