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A monopolist’s inverse demand is P=500-2Q, the total cost function is TC=50Q2 + 1000Q and Marginal...

A monopolist’s inverse demand is P=500-2Q, the total cost function is TC=50Q2 + 1000Q and Marginal cost is MC=100Q+100, where Q is thousands of units. a). what price would the monopolist charge to maximize profits and how many units will the monopolist sell? (hint, recall that the slope of the MARGINAL Revenue is twice as steep as the inverse demand curve. b). at the profit-maximizing price, how much profit would the monopolist earn? c). find consumer surplus and Producer surplus in dollars under monopoly. d). if the industry were competitive and the Monopolist’s MC were the competitive industry’s supply, what would be the price and quantity of equilibrium? e). based on the answers above, identity in dollars what the deadweight loss is.

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