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1.Amonopolyhasaninversedemandfunctiongivenbyp=4804Qandaconstantmarginalcostof40.Calculatethedeadweightlossifthemonopolychargestheprofitmaximizingprice. 2.BetaLaundry'scostfunctionisC(q)=50+10q+2q2. A.WhatquantitymaximizesBeta'sprofitifthemarketpriceisp?Howmuchdoesitproduceifp=$70? B.Ifthegovernmentimposesaspecifictaxoft=$4,whatquantitymaximizesBeta'saftertaxprofit?Doesitoperateorshutdown? 3.Amonopoly'sinversedemandfunctionisp=1602Q,andithasnofixedcost.Initially,itsmarginalcostis12.Now,thefirmmakesaprocess innovationthatreducesitsmarginalcostto4.Determinetheprice,quantity,consumersurplus,profit,totalsurplus,anddeadweightlossbeforeand aftertheinnovation.Whatshareoftheincreasedtotalsurplusgoestoconsumers?

1.Amonopolyhasaninversedemandfunctiongivenbyp=4804Qandaconstantmarginalcostof40.Calculatethedeadweightlossifthemonopolychargestheprofitmaximizingprice.

2.BetaLaundry'scostfunctionisC(q)=50+10q+2q2.

A.WhatquantitymaximizesBeta'sprofitifthemarketpriceisp?Howmuchdoesitproduceifp=$70?

B.Ifthegovernmentimposesaspecifictaxoft=$4,whatquantitymaximizesBeta'saftertaxprofit?Doesitoperateorshutdown?

3.Amonopoly'sinversedemandfunctionisp=1602Q,andithasnofixedcost.Initially,itsmarginalcostis12.Now,thefirmmakesaprocess

innovationthatreducesitsmarginalcostto4.Determinetheprice,quantity,consumersurplus,profit,totalsurplus,anddeadweightlossbeforeand

aftertheinnovation.Whatshareoftheincreasedtotalsurplusgoestoconsumers?

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