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Single price monopolist

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Reference no: EM132170631

Suppose that a single price monopolist faces a market demand curve: P = 200 - 4Q

As well, costs are equal to: C(Q) = 40Q 2

a) Give a function for revenue as a function of Q. What is the firms profits as a function of Q.

b) What price will the firm choose? What quantity?

c) What are the firms profits?

d) What would the competitive price and quantity be? Show on a graph the inefficiency from monopoly.

Reference no: EM132170631

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