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help please $38 $36 $34 $32 $30 $28 S = MC $26 $24 $22 $20 $18 $16 $14 $12 D= MB $10 $8 $2 SO
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$38 $36 $34 $32 $30 $28 S = MC $26 $24 $22 $20 $18 $16 $14 $12 D= MB $10 $8 $2 SO 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Quantity (Q) The graph above shows the supply and demand functions for a product produced in a small country in a perfectly competitive industry. The demand function is the sum of the demand functions of all the consumers in this country, the same as their marginal benefit functions. The supply function is the sum of the marginal-cost functions of all the firms in the industry. Start from the beginning. A rich dude buys all the firms in this industry and forms a monopoly. So, now the demand function is the function faced by this newly formed monopolist and the supply function is this monopolist's marginal cost function. The deadweight loss of this monopoly power will be: DWL = $16 DWL = $18 C DWL = $20 DWL = $24 None of the above.634 892 $30 S= MC $26 $22 $20 616 $12 $10 D = MB 66 $2 6 7 3 9 10 11 12 13 14 15 16 Quantity (Q) The graph above shows the supply and demand functions for a product produced in a small country in a perfectly competitive industry. The demand function is the sum of the demand functions of all the consumers in this country, the same as their marginal benefit functions. The supply function is the sum of the marginal-cost functions of all the firms in the industry. Start from the beginning. A rich dude buys all the firms in this industry and forms a monopoly, So, now the demand function is the function faced by this newly formed monopolist and the supply function is this monopolist's marginal cost function. The monopolist's producer surplus equals; PS - $100 PS - $104 PS = $108 PS = $112 None of the aboveStep by Step Solution
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