Exercise 3:Monopoly A monopolist has total costs TC(@) - 32+10Q and faces market demand Q(P) - 40-2P. Solve for monopolist's output, price, profits and consumer
Exercise 3:Monopoly A monopolist has total costs TC(@) - 32+10Q and faces market demand Q(P) - 40-2P. Solve for monopolist's output, price, profits and consumer surplus when: (a) (3 pts) Price is unregulated. (b) (3 pts) Price is set equal to average total cost. (c)(3 pts) Price is set equal to marginal cost
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