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Problem:

Imagine that a firm has a monopoly on good with the following demand schedule:

Price

Quantity

$10

0

9

1

8

2

7

3

6

4

5

5

4

6

3

7

2

8

1

9

0

10

Required:

problem 1: What quantity and price will the monopolist produce at if the marginal cost is a constant$4?

problem 2: Compute the dead weight loss from having the monopolist produce, rather than the perfect competitor.

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M910509

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