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Bentley is a monopolist; she is the only producer of financial planning software. Assume that demand for the software is given by P = 120 - Q while the costs for making the software are T C = 1 Q2.

(a) How much does Bentley choose to produce, QM , and what price does she charge,
P M ?

(b) If this industry were perfectly competitive instead, what would be the quantity produced, QC , and the price charged, P C ?

(c) Compare the overall surplus under competition with the overall surplus under a monopoly. find out CS and P S under both scenarios. find out the deadweight loss associated with the monopolization of this industry.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M940771

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