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5) Suppose a monopolist decides to buy out all 1,000 firms at once and monopolize the real estate market in Syracuse. Assume he successfully buys

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5) Suppose a monopolist decides to buy out all 1,000 firms at once and monopolize the real estate market in Syracuse. Assume he successfully buys everyone's firm and that there is no cost advantage associated with being a monopolist. Hence the cost function for the monopolist is C(Q)=20Q . e) Derive the Marginal Revenue function from market demand. f) What is the profit-maximizing output and price? What are the profits to the monopolist? age 3 of 6

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