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(a) (10) Find the competitive equilibrium price p and quantity q. How many pies of does each consumer buy? (b) (10) Find the surplus to
(a) (10) Find the competitive equilibrium price p and quantity q. How many pies of does each consumer buy? (b) (10) Find the surplus to consumers C'S" and producers PSC in the competitive equilib rium. How much surplus CSS goes to each consumer? (c) (10) Suppose that Larry must charge a single price for all pies. Find his monopoly price p" and quantity q". How many pies q" does each consumer buy? (d) (10) Find the surplus to consumers CSm and producers PSm in the monopoly equi- librium, as well as the deadweight loss DWLm. How much surplus CS" goes to each consumer?(100) Larry holds a monopoly in the market for pies, with no fixed costs and a constant marginal cost of c = 24. Moe, Curly, and Shemp are the three consumers who have the individual demand curves q1 (p) = 30 - 92 (p) = 20 - 93 (P) = 10
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