(Answered) Assuming a monopoly market with q 8 has a demand curve of

Economics

Assuming a monopoly market with Q = 8 has a demand curve of (P = 68 - 2Q) and a supply curve of ( P = 20 + 2Q), (Please show all your work):

1) What is the monopoly market price and quantity?

2) What is the consumer surplus?

3) What is producer surplus?

4) What is the total wealth?

5) What is the Deadweight Loss?

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Macroeconomics, Economics

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