question archive A monopolist has a linear MCMC of MC=2Q+16
A monopolist has a linear MCMC of MC=2Q+16
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A monopolist has a linear MCMC of MC=2Q+16. It faces a linear demand of P=160−Q.
A. Find the equation of the MR. Use this to find the profit-maximizing quantity and price for the monopolist.
B. Draw a diagram with the market demand, MR, and MC. Specifically, label the answers, then use this diagram, and possibly some additional calculations, to find the exact value of the welfare loss from the monopoly.
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