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Suppose a monopolist has a price equation given as P=200-10Q and Total Cost equation given as 400+10q+2q2
a) What is the profit maximizing price and output for monopolist?
b) How much profit would this firm earn?
c) Calculate market power.
d) Profits earned by this monopolist will depend on government regulations and other factors. Discuss
e) Graph consumer and producer surplus in the long run.
f) Calculate consumer and producer surplus.
Is there any Dead Weight Loss? If yes, calculate?
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