Question: Their demand is modeled by q = -2p + 100. There are three suppliers in the coat market, North Face, Columbia, and Patagonia, and their

Their demand is modeled by q = -2p + 100.

There are three suppliers in the coat market, North Face, Columbia, and Patagonia, and their total supply is p = 10q.

What is the equilibrium price and quantity in the market?

What is the producer, consumer, and Total surplus?

North Face decided to buy up the other coat suppliers so that it could have a monopoly on the winter coat market.

What is the new equilibrium price and quantity?

What is the producer and consumer surplus?

What is the dead weight loss because of the monopoly?

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