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You are an aspiring monopolist and planning to sell a new gadget you have developed. The demand in the LSE campus for this gadget is given by Q=50-2p and your marginal cost of producing each gadget is 10. Which of the following statements are true?
a) As a simple monopolist you will sell 15 gadgets.
b) As a simple monopolist you will sell each gadget for 10 pounds.
c) As a simple monopolist you will sell each gadget for 25 pounds.
d) As a fully discriminating monopolist you will make a profit of 225 pounds.
e) As a fully discriminating monopolist you will make a profit of 450 pounds.
f) If many competitors imitate you by designing similar gadgets with the same technology, under perfect competition you will still be able to make some strictly positive profits.
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