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Question 2 Consider an electricity supplier with monopoly market power that faces the demand curve P = 100 30 and has the total cost function

Question 2 Consider an electricity supplier with monopoly market power that faces the demand curve P = 100 30 and has the total cost function C(Q) = 402 + 100 where P and Q are price and output. a. Calculate monopoly price and the monopoly quantity of electricity supplied. b. Determine consumer and producer surplus

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