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A monOpolist faces the following aggregate demand function: Q = 28 P. Total production costs for the rm are TC(Q) = 4062. (a) Calculate marginal

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A monOpolist faces the following aggregate demand function: Q = 28 P. Total production costs for the rm are TC(Q) = 4062. (a) Calculate marginal cost, marginal revenues and the equilibrium quantity produced by the monop- olist. (b) Calculate the consumer surplus, producer surplus, and prots in equilibrium. (c) Suppose now that the monopolist decides to spend 10 to purchase a patent that would allow her to decrease total costs by 4 per unit. Find the new equilibrium quantity and price in this case. ((1) Find the new consumer surplus, producer surplus, and prots to the monopolist after the purchase of the patent. (e) From the point of view of the total surplus in the economy, is the introduction of the patent a positive improvement or not

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