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2. Calculating Welfare Levels. (10 points) Consider a monovonst's Imear mverse demand curve: p = 30 - q and a total cost curve of: TC
2. Calculating Welfare Levels. (10 points) Consider a monovonst's Imear mverse demand curve: p = 30 - q and a total cost curve of: TC = 10 + 2q^2 (a) Assume the monopolist chooses quantity first. Find the monopolist's equilibrium quantity, price, and profit. (b) Calculate Consumer Surplus, Producer Surplus, and Welfare in a monopoly mar- (c) Suppose that the monopolist acted as if she were in a perfectly competitive market. Find the monopolist's equilibrium quantity, price, and profit. (d) Calculate Consumer Surplus, Producer Surplus, and Welfare in a perfectly competitive market setting. (e) Calculate the Dead Weight Loss. 3. Market Power. (5 points) Provide two sources or market power for a monopoly urm
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