(Answered) The market demand is given by q320-8p monopolists mc10 a

Economics

The market demand is given by Q=320-8P. Monopolist's MC=10. a. Calculate the profit maximizing monopoly output and price. b. What is the Lerner-Index of market power for this monopoly at this price and output? c. What would the perfectly competitive market price and output be for this example?

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