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You live in a small town with only one grocery store. the demand curve for food in your town by p=35-1/5q. The grocery store has a total cost curve of tc = 50+1.25Q.

(a) Graph the Demand, Marginal Revenue, Marginal Cost, and Average Total Cost curves.

(b) What are the equilibrium price and quantity for this monopolist if it charges a single price to everyone?

(d) Show on the graph whether this market is operating efficiently.

(e) Calculate the dead weight loss.

(f) Calculate the consumer surplus.

(g) Calculate the producer surplus

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91365948

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