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Compute the monopoly equilibrium outcome

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Reference no: EM132795071

Consider a monopoly firm that faces the following market demand curve: P = 2400 - Q where Q is quantity and P is price. Its marginal cost curve is P = 2Q.

a) Compute the monopoly's equilibrium outcome (Qm, Pm)

b) Compute deadweight welfare loss (DWL)

c) Compute the Lerner Index and the monoploy's elasticity of demand at the equilibrium outcome

d) Illustrate using a graph, the monopoly's equilibrium and DWL

Reference no: EM132795071

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