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Suppose that a monopolist firm's demand curve is given by P = 100-2y and its marginal cost is given by MC(y) = y/2 Answer the following questions:
a) What is the profit-maximizing level of output and price for the monopolist?
b) Now suppose that this rm is in a perfectly competitive industry, still facing the same marginal cost curve. (Assume that the average cost curve of this rm always lies below its marginal cost curve.) Calculate the price and quantity that we would observe in this industry.
c) Calculate the consumer surplus under both the monopoly and the perfectly competitive industry structure. Compare your results.
A natural monopoly has a cost function c (q) = 400 + 25q and market demand D (p) = 200 - 2p. What are the monopoly's profit, output, and customer surplus when the price is set to marginal cost? Average cost?
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Find out the socially efficient price, units of output and profits? How much output would a monopoly produce? Find out the price and profits of the monopolist?
After a decade of overconsumption Americans are finally saving at the appropriate levels. Despite only modest increase in real incomes, the U.S. Savings rate has risen to 5.4% as of August 2014. What are some of the key drivers that may be a..
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