The inverse demand for a product is pq 100 minus 12q, Ask an Expert

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The inverse demand for a product is P(Q) = 100 − (1/2)Q. Production is associated with a marginal private cost, MCP (Q) = Q, and a constant marginal external cost, MCE = 25.

(a) Graph inverse demand, marginal revenue, marginal private cost, and marginal social cost on a single graph. Label the axes. (b) What is the unregulated equilibrium? (Define in terms of price and quantity.) (c) What is the socially optimal price-quantity pair? (d) What is the deadweight loss under an unregulated monopoly in this case? (e) What should the regulator do?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91529756

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