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September 16, 2014

Homework Help: To: Economyst - Can you please help me?

Posted by too old on Wednesday, November 11, 2009 at 9:15pm.

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