Question: Please show all work. Thanks! Problem 4 Let's assume a monopolist has the following demand and cost curves: P = 132 - 2q TC =

Please show all work. Thanks!

Problem 4 Let's assume a monopolist has the following demand and cost curves: P = 132 - 2q TC = 12q + q2 (a) Calculate the price and quantity if this firm acted as a perfectly competitive market. (b) Graph these curves, and show the equilibrium price and quantity. (c) What is the consumer surplus? Producer surplus? Deadweightloss? (d) Calculate the price and quantity if this firm acted as a monopolist. (e) Graph these curves and show the equilibrium price and quantity. (f) What is the consumer surplus? Producer surplus? Deadweightloss

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