Create the demand, marginal revenue and marginal cost curves

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Reference no: EM1374158

1. A monopolist faces demand given through: P=100-4Q and has marginal costs given through: MC=10+2Q
a. Create the demand, marginal revenue and marginal cost curves. Compute and demonstrate how much this firm will sell and what it will charge.
b. Compute the producer surplus with monopoly and the consumer surplus with monopoly.
c. How much would be produced if this were a competitive market? What would be the price?
d. Compute the consumer and producer surplus for a competitive market.

Reference no: EM1374158

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