Suppose the demand curve for a monopolist is qd 500 minus, Business Economics

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Suppose the demand curve for a monopolist is qd 500 minus

Suppose the demand curve for a monopolist is QD = 500 − P, and the marginal revenue function is MR = 500 − 2Q. The monopolist has a constant marginal and average total cost of $50 per unit.

a. Find the monopolist’s profit-maximizing output and price.

b. Calculate the monopolist’s profit.

c. What is the Lerner Index for this industry?

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Business Economics: Suppose the demand curve for a monopolist is qd 500 minus

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Business Economics: Suppose the demand curve for a monopolist is qd 500 minus

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