Microeconomics Ans part e,f, g

1:36 PM Thu Aug 20 "Ill - 11% pu Final Exam X Ask.com X Al Paraphrasing Tool V Today 1:36 PM TO Edit All Photos od/quiz/attempt.php?attempt=1169674&cmid=1660641&page=38 LIVE X KPu Final Exam x Ask.com x Al Paraphrasing Tool | QuillBot * + courses.kpu.ca/mod/quiz/attempt.php?attempt=1169674&cmid=1660641&page=38 Dashboard Go to * Help . Search KPU Dashboard Go to . Help . Search anit) Quant 160 a. What price would a single-price (normal) monopoly charge and how much output would it produce? b . If this was a perfectly competitive industry . what would be the equilibrium output and price ? Calculate the consumer surplus that exists with a single-price monopoly . d. Calculate the producer surplus that exists with a single-price monopoly. Calculate the deadweight ( efficiency) loss that results from a single-price monopoly. MC Calculate the deadweight ( efficiency ) loss that results from a perfectly competitive industry . g. Monopoly is one source of market failure. List one other source: 112 80 a. set MR=MC to determine output Q in Monopoly. monopolist maximizes profit by producing the marginal revenue is equal to marginal cost as per the profit maximization rule(MR=MC). marginal revenue intersects marginal cost where quantity is 24 units (q=24) so, here Qm= 24 units. then as shown by the demand curve , it will change the price Pm=$112. . b. perfectly competitive industry, would be in equilibrium where MR= MC in demand curve. Q=40 and price= $80 c. Consumer surplus : what is the difference between water consumer is willing to pay for a good (fun from the demand curve ). consumer surplus = value to buyers - amount paid here to search O 60 DELL 40 MR O O O