Disco, Inc., has a monopoly over the production of jukeboxs, with the following cost and revenue characteristics, where Q= the number of jukeboxes produced per week.

Marginal Revenyue = 1000-20Q

Total Revenue + 1000Q-10Q2

Marginal Cost = 100 + 10Q

What would be the price and quantity of Jukeboxes sold under the following conditions?

A The firm behaved as a monopoly.

B The firm behaved as if the market were perfectly competitive.

C What is the producer and consumer surplus under monopoly and in perfectly competitive outcome?