Suppose the demand curve for a monopolist, Ask an Expert

Economics

Suppose the demand curve for a monopolist is QD = 500 − P, and the marginal revenue function is MR = 500 − 2Q. The monopolist has a constant marginal and average total cost of $50 per unit.
a.Find the monopolist’s profit-maximizing output and price?

b. find out the monopolist’s profit?

c. What is the Lerner Index for this industry?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M993705

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