Consider a monopolist with total costs of TC = Q2 + 4Q + 36 and marginal costs of MC = 2Q + 4.
They face a market demand of P = 100 - QD. Round answers to one decimal place.
1) What is the monopolist's marginal revenue equation?
2) What is the monopoly equilibrium market price and output?
3) What is the monopolist's equilibrium profit?
4) What are consumer, producer, and total surplus in the monopoly equilibrium?
5) How much dead-weight loss does the monopolist create?
6) What is the monopolist's Lerner Index?
Score = 0