Friday
April 18, 2014

Homework Help: economics

Posted by Em on Thursday, October 17, 2013 at 2:09pm.

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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