Question: ONLY NEED C & D A & B is done already (https://www.coursehero.com/qa/wait/29278943/?question_id=29278943) 2. Consider a profit-maximizing monopolist who faces an inverse demand curve P =

ONLY NEED C & D

A & B is done already (https://www.coursehero.com/qa/wait/29278943/?question_id=29278943)

2. Consider a profit-maximizing monopolist who faces an inverse demand curve P = 300 1 2Q and must set a single, constant price for each unit of its output. Marginal revenue is given by MR = 300 Q, and the marginal cost of production is MC = Q.

c) Consider the next unit of output after the amount that the monopolist stopped at. Why is it socially efficient that this unit be produced? Why did the monopolist choose not to produce it?

d) If the monopolist had been able to use price discrimination, how would the monopolist's optimal choice and the effect on consumers likely have been different and why? What's an example of price discrimination that helps illustrate your answer? [We are not looking for numerical answers here, just a general explanation.]

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