Find out the curve for mr and use it to find the monopoly

Assignment Help Business Economics

Reference no: EM1360370

The market demand curve for a good is P = -3Q + 375. The marginal cost for the same good is MC = 2Q + 15.

a) Find out the curve for MR and use it to find the monopoly output and price.

Calculate the output of a perfectly competitive market if the MC is the same as the market supply. Draw a picture of the demand, MR and MC, specifically labeling the answers in (a) and identify the welfare loss from monopoly in the picture. Also calculate the welfare loss from monopoly.

Reference no: EM1360370

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