A monopolist faces a demand given by p 30 ndash 3y its, Ask an Expert

Economics

A monopolist faces a demand given by p = 30 – 3y. Its cost function is c (y) = 3y^2 + 6y

a) What is the optimal level of output for a monopolist?

b) What is a monopolist price?

c) What is the total profit (or loss)?

d) Show answers to (a), (b), and (c) on a graph that includes demand, MR, and MC

e) Calculate the dead weight loss because of inefficiency of exercising monopoly power?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91372468

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