Question
a. (2021 Summer Final) Miss Chan Chan is a monopoly selling widgets in city A. She faces a demand curve and a marginal cost curve
a. (2021 Summer Final) Miss Chan Chan is a monopoly selling widgets in city A. She faces a demand curve and a marginal cost curve given by the following equations.
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Demand: P = 75 0.5Q
Marginal Cost: MC = 1.1Q
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Suppose Miss Chan Chan can implement perfect price discrimination. Using this information, we can compute that the total consumer surplus in this market is [Answer] dollars.
(In decimal numbers, with two decimal places, please.)
b. Continue with the last question. The deadweight loss in this market is [Answer] dollars.
(In decimal numbers, with two decimal places, please.)
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