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Q3 (a) Consider the below information for a monopoly. Use this information to calculate this firm's profit. (b) Calculate the loss of welfare (deadweight loss)

Q3

(a) Consider the below information for a monopoly. Use this information to calculate this firm's profit. (b) Calculate the loss of welfare (deadweight loss) due to the monopolisation of this market. You may wish to sketch a diagram to represent this market. (c) Consider the following profit function for a monopoly. Use this information to calculate its fixed costs: (d) Calculate this firm's profit if it produces 37 units. (e) Calculate the quantity that this firm should produce in order to maximise profit

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