Calculate the lerner index for the market

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Reference no: EM13734275

A single firm monopolizes the entire market for some product which can be produced at a cost of c(Q) = Q^2. The firm faces a market demand curve given by Q = 60 ? 0.5p.

a. Calculate the profit-maximizing price and quantity for the firm.

b. What is the firm’s profit?

c. Calculate the Lerner Index for the market

Reference no: EM13734275

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