Question
Q5.The figure represent the cost and revenue structure of a firm in monopoly situation.Using the information provided in the figure answer the following questions: a).
Q5.The figure represent the cost and revenue structure of a firm in monopoly situation.Using the information provided in the figure answer the following questions: a). If the industry is perfectly competitive,what will be the total quantity produced? At what price? b)Which area reflects consumer surplus under perfect competition? c)If the industry is a single price monopoly,what quantity will the monopolist produce?which price will it charge? d)Which area reflects the single price monopolist profit? e)Which area reflects consumer surplus under single price monopoly? f)Which area reflects the deadweight loss to society from single Price monopoly? g)If the monopolists can price discriminate perfectly, what quantity will the perfectly price discrimination monopolist produce?
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