Scenario 1: Firm Beta is a monopolist. The average cost curve and average revenue curves are given as below: AC= 10 ? + 2? AR=120-Q 12) Use Scenario 1: What is Firm Beta's profit maximizing price (P* ) and quantity (Q* )? Once you find P* and Q* , please provide the P*Q * (multiplication of P* and Q* ) in the multiple choice answers A) P*Q *= 2,560 B) P*Q *= 3,500 C) P*Q *= 1,500 D) P*Q *= 3,890 E) P*Q *= 2,000 Answer: E

13) Use Scenario 1: The deadweight loss from monopoly power is ________. A) 40 B) 45 C) 37 D) 49 E) none of the above Answer: A

NEED STEP BY STEP ON HOW TO GET ANSWER

Scenario 1: Firm Beta is a monopolist. The average cost curve and average revenue curves are given as below: AC= 130+2Q AR=120Q 12) Use Scenario 1: What is Firm Beta's prot maximizing price (P') and quantity (Qt)? Once you nd P" and Q", please provide the P*Q* (multiplication of P* and Q\") in the multiple choice answers A) P*Q*= 2,560 B) P*Q*= 3,50I C) P*Q*= 1,500 D) P*Q*= 3,890 B) P*Q*= 2,000 Answer: E See question 34 on chapter 12 practice set 13) Use Scenario 1: The deadweight loss from monopoly power is A) 40 B) 45 C) 37 D) 49 E) none of the above Answer: A See question 34 in chapter 12 practice set