(Answered) Cases of demand and cost functions

Management Studies

Problem: Find the monopoly price and quantity, the elasticity of demand at such price and the output distortion( measured s (Q^M-Q^PC)/Q^PC ) with respect to the competitive level in the folloing cases of demand and cost functions:

a) Q(p) =a-p and TC(Q)=cQ

b) Q(p) = p ^-n and TC(Q)=cQ

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