3 suppose the demand curve for a monopolist is qd 500

Management Studies

3. Suppose the demand curve for a monopolist is QD = 500 - P, and the marginal revenue function is MR = 500 - 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit-maximizing output and price. b. Calculate the monopolist's profit. c. What is the Lerner Index for this industry?

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