Question: Question 2 (2.5 points) Suppose De Beers is behaving like a monopoly and faces the demand curve Qd = 333 -l- 200 and have a

Question 2 (2.5 points) Suppose De Beers is behaving like a

have a marginal cost curve such that MC= 15*Q where Q is

the output level and P is the price. What is the price

Question 2 (2.5 points) Suppose De Beers is behaving like a monopoly and faces the demand curve Qd = 333 -l- 200 and have a marginal cost curve such that MC= 15*Q where Q is the output level and P is the price. What is the price that De Beers would charge if its profit maximizing? Please answer in whole number. Your Answer: Answer Question 3 (2.5 points) Suppose De Beers is behaving like a monopoly and faces the demand curve 20 + 200 and have a marginal cost curve such that MC = 20Q where Q is the output level and P is the price. As more alternatives become available and De Beers lose market share, what will happen to the demand curve faced by De Beers? Suppose the new demand curve is P = -20Q* + 3000 Suppose average total cost, ATC = 40Q + 0. 5Q4, what is the quantity that De Beers produce now and what is its profit under this monopolistic competition market structure? Explain your answers.Question 2 (5 points} \"As economists, we tend to think that cash is the most powerful direct motivator, but that is not the reality." Do you agree with this statement? Please explain using your knowledge consumer theory and the articles for the case studies

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