Question: Please Show Work 6. [16] Some guy named Born Trady has a monopoly over nice {some might even say superl bowls. The market demand for
Please Show Work
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6. [16] Some guy named Born Trady has a monopoly over nice {some might even say "super\"l bowls. The market demand for his bowls is (KP) = 120 SP and it costs him (IQ) = 02 to produce them. a. [5] Derive the first order condition of the Bom's prot maximization problem under uniform pricing. b. [4} Show algebraically that the marginal reven ue curve lies below the demand curve. c. [4} Calculate his prot and the consumer surplus. d. [3} Is it possible that Born is a natural monopolist? Explain you reasoning
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