A monopolist faces a demand curve given by P = 220 – 3Q where P is the price of the good and Q is th

A monopolist faces a demand curve given by P = 220 – 3Q where P is the price of the good and Q is the quantity demanded The marginal cost of production is constant and is equal to $40 There are no fixed costs of production

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a How much profit will the monopolist make?

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b What is the deadweight loss created by this monopoly?

c If the market were perfectly competitive, what quantity would be produced?

 

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