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Show a monopolist will never produce on inelastic portion

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Reference no: EM13889901

1. Show that a monopolist will never produce on the inelastic portion of the demand curve and provide an explanation.

2. For the linear inverse demand case with increasing linear marginal costs show that

DWL = L( Pm Qm)K/2, where K = (Qc - Qm)/Qm and that K 1.

Reference no: EM13889901

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