What is the lerner index for the industry

Reference no: EM13191383

Suppose the demand curve for a monopolist is QD = 500- P, and the marginal revenue function is MR = 500 - 2Q. The monopolist has a constant marginal and average total cost of $50 per unit.

A. Find the monopolist's profit - maximizing output and price.

B. Calculate the monopolist profit.

C. What is the Lerner Index for this industry?

Reference no: EM13191383

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