Question: Please answer 7 8 9 and 10 7. Is the monopoly's profit-maximizing quantity (from your prior graph) at an allocationy efficient level? Why or why

Please answer 7 8 9 and 10

7. Is the monopoly's profit-maximizing quantity (from your prior graph) at an "allocationy efficient" level? Why or why not? (4 pts) 8a) If a Monopolist faces a demand curve P =40 - 4Q, how much marginal revenue would it earn from selling: (2 each) 40 Its 2nd widget? Its 4th widget? Its 5th widget? Demand b) Why doesn't MR just equal price for a monopolist the way it does for a perfectly competitive firm???? (4 pts) 9. Let's say that the Monopolist with the demand curve P = 40 - 4Q faces a constant marginal cost of $8. What would be its profit maximizing quantity and price? How much profit would it earn? (8 pts) 10. Suppose that monopolist saw its demand increase so that the new demand curve was P = 48 - 4Q (MC remains at $8) Calculate the new profit maximizing quantity, price, and profit. (6 pts)

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