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read the question in the picture. 4. A monopolist faces an aggregate demand curve Q = 60 3p and bears costs C(y) = 30 +

read the question in the picture.

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4. A monopolist faces an aggregate demand curve Q = 60 3p and bears costs C(y) = 30 + 10y. 1One way to express this technology is to say that f(:1:1,a:2,m3) = Amitmgm, where :1:3 is either zero or one and the cost of one unit of 9:3 is 103 = 4. (a) Find the prot maximizing price. Find the priceelasticity of demand at this price. (b) Draw a graph in the space y X p and indicate which areas correspond to producer surplus, consumer surplus, and deadweight loss, and calculate them. Find the monopolist's prots. Draw the average cost curve and indicate the area that corresponds to prots. (0) Find quantity, price, prot, consumer surplus, and tax revenue if the government imposes a tax if = 2 per unit sold. Draw the situation in the same graph as (b). (d) What would happen if the tax was a lumpsum amount T that is independent of y

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