Consider the monopolist for the next five questions. Suppose the monopolist faces the following demand curve: P=180-4Q.

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Consider the monopolist for the next five questions. Suppose the monopolist faces the following demand curve: P=180-4Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs.

1. What is the monopolists profit maximizing level of output?

2. What price will the profit maximizing monopolist charge?

3. How much profit will the monopolist make if he maximizes his profit?

4. What is the value of consumer surplus?

5. What is the value of deadweight loss?

Posted Date: Jun 13, 2024 11:03 AM

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Consider the monopolist for the next five questions. Suppose the monopolist faces the following demand curve: P=180-4Q.

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