Part 4 :

Please i need professional and detailed answer, because this is for MBA level, Managerial Economics course.

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Part # 4 1) Industry demand is given by: QD = 1000 - P All firms in the industry have identical and constant marginal and average costs of $50/unit. a. If the industry is perfectly competitive, what will the industry output be? What will be the equilibrium price? What profit will each firm earn? b. Now suppose that there are five firms in the industry and that they collude to set price. What price will they set? What will be the output of each firm? What will be the profit of each firm?

2) A monopolist sells to two consumer groups, students and non-students. Demand for students: Q = 500 - 1/2P Demand for non-students: Q = 750 - 2P MC = 20 Find the profit-maximizing price/quantity combination in each market if the groups can be separated.

NOTE: PLEASE SEND ME ANSWER IN TYPED FORM STRICTLY PROHIBITED HAND WRITTEN SOLUTION AND SEND ME ANSWER SEPARTELY