Q: a monopoly electric company in Chicago, with demand ofQd=30-p/5 aka Qd=30-.2P MC=5Q and TC=2.5 Q to the second power (Q2)

Graphically depict the demand curve and the marginal cost curve.

• If the monopoly is free to choose its own priceP_mand quantityQ_m, graphically depict the monopoly (EP and EQ) equilibrium price and quantity.
• Add any other curve(s) to your diagram that may be required to obtain this outcome.
• Compute and state the exact monopolist equilibrium priceP_mand quantityQ_mthat you depicted graphically.

Produce the graph which shows your demand and marginal cost (MC) curves, as well as any other necessary curves.(ATC AVC?)

Graphically indicate the socially optimal output level,Q social and compute the quantity and price associated with this output.

Demonstrate areas of (CS), (PS), and any possible deadweight loss (DWL) associated with monopolyfor PS CS, DWL, just graphically no need to show this calculation

• how do you determine the socially optimal output level? Compare socially optimal output to monopolist output: PS, DWL, CS In a Paragraph with 3-4 lines of response,