G ilearn.canadorecollege.ca 1n (2 [E + I: ('l) Dllpreet Dhillon same Behla | Desi Crew l Mandeep Maavi l Latest Punjabi Song 2023i New song 2023 - VouTube 1) u Worksheet day 11 F2023 ECNlDO-Z Microeconomics (Anil Nagar) - Canadore College Online Learning Environment V Hide Folder Information Instructions Please complete the following questions and upload at d2]. Day 11 Worksheet 1. Consider a monopolist who faces the demand curve: Q = 4 2P. [f the firm faces a fixed cost of $100 and marginal cost of St, please find the equilibrium price and quantity produced. 2. Recall from the text that under Monopolistio Competition, demand can be represented as: q = S'[1 b (P - P)]. where: q = firm demand S = industry output n = number of firms F = firm price P = average price of competitors b = positive constant [responsiveness to (P-)] Given symmetric firms. we assume q = sin. Further assume A0 = [F/q] + c. where F is a fixed cost and c is the per unit cost. Further assume that all firms charge the same price (such that P = P). Assume that industry output is 40.000. fixed costs are $200. and the per unit cost of production is $1 (marginal cost). If b=2. please find the number of firms. firm output and price in equilibrium. 3. Drawing on the generalizable analysis and calculations presented in class, please determine the change in price if one additional firm enters the market. (That is. you are not to use the specific numbers from problem #2. rather you should work with the variables to find this an swer.) 4. Using the specific numbers from problem #2, verify that your answer to question #3 is correct. i 7.7 , ,, m cancel