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Suppose that there is only one restaurant in city A. The demand faced by the restaurant is P = 121-3Q where Q is the number
Suppose that there is only one restaurant in city A. The demand faced by the restaurant is P = 121-3Q where Q is the number of meals provided and can only take integer values. The marginal cost of producing an additional unit of food is $10. The restaurant should charge $[ Answer ]per meal.
(In integers, please.)The deadweight loss caused by the monopolistic restaurant is $[ Answer ].
(In decimal numbers, with two decimal places, please.)
The answers are 64 and 459 respectively.
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