Tads bait shop has a monopoly in the bait market demand is, Ask an Expert

Economics

Tad's bait shop has a monopoly in the bait market. Demand is given by q=56-8p and mc=0.25q

A) find profit maximizing output and price

B) find the level of consumer surplus that accompanies tad's profit max choice of output and price

C) determine what consumer surplus would be in a competitive equilibrium

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91677697

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