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A monopoly can produce at constant marginal and average cost of 5. The firm faces a market demand curve given by Q = 53 - P. Hint: Graphing the problem may be useful for parts c. and d.
a. What is the profit maximizing level of output? What is the price?
b. Compute the profits.
c. What output level would be produced by the industry under perfect competition?
d. Calculate the consumer surplus under monopoly and under perfect competition.
Which of the following information about Fiat money is fall? Fiat money
q.1. an investor buys a property for 1 million with 40 of the purchase price attributable to the land and the balance
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