Question: Please find answer to each blank in the question. See picture for details A monopolist faces a demand curve given by P=4oo where P is

Please find answer to each blank in the question. See picture for details

A monopolist faces a demand curve given by P=4oo where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to $2. There are no xed costs of production. Hint: To answer the following questions, it may be helpful to draw a graphl What quantity should the monopolist produce in order to maximize prot? What price should the monopolist charge in order to maximize prot? How much profit will the monopolist make? What is the deadweight loss created by this monopoly? (Hint: compare the monopoly outcome with the perfectly competitive outcome). Monopoly deadweight loss = If the market were perfectiy competitive, what quantity would be produced

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