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A monopolist faces a market demand curve given by P(y) = 100 y. Its cost function is c(y) = y 2 + 20.
(a) Find its profit - maximizing output level y and the market price p(y ).
(b) Calculate its total revenue, total cost, and profit at y .
(c) c(CS).
(d) Calculate the value of producer surplus (P S).
(e) What is the deadweight loss (DWL) equal to for this monopolist?
(f) What is the efficient (competitive) amount of output y e ?
(g) Provide a graph for this monopolist indicating P(y), MR, MC, y , p(y ), CS, P S, and DWL.
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