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July 1, 2015

Homework Help: Economics/Math

Posted by too old on Sunday, November 8, 2009 at 9:16pm.

The demand curve for a monopolist is Qd = 500 - P and the marginal revenue function is MR = 500 - 2P. The monoploist 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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