The market with demand function Q = 800 4p is supplied by a single firm with...
The market with demand function Q = 800 4p is supplied by a single firm with total cost function TC(Q) = 0.25Q^2 + 20Q + 100.
(i) Calculate the optimum price and output strategy of this firm.
(ii) Now suppose that the market is instead supplied competitively and the overall industry cost structure is the same as above. What will be the market equilibrium?
(iii) Calculate the effect of the monopolist on national welfare
(iv) Calculate demand elasticity at perfectly competitive and monopolist equilibrium
can you please show all work in order to get the first part (i)
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