Assume government forces monopolist to behave like

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A monopoly faces demand given by Q = 200 - P. The marginal cost MC = $10 is constant. The marginal revenue MR = 200 - 2Q.

a. Graphically show the monopoly's equilibrium.

b. What is the equilibrium price and quantity?

c. What are the profits earned by the monopolist?

d. Suppose the government forces the monopolist to behave like a Competitive firm. What will be equilibrium price and quantity now? What will be the firm's profits?

Reference no: EM13390918

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