Given a demand fxn of 20-2P and a supply fxn of -4+P for a perf. competitive market:

1. Calculate the equilibrium price and qty. (I got e. price = 4 and e. qty = 8 is that right?)
2. Calculate producer surplus, consumer surplus. (i got 8 and 4)
3. if the market becomes a monopoly that charges $ 15, what is:
a. the loss in consumer surplus
b. additional profit of the monopolist
c. deadweight loss this part

i don't understand do i compute for a new equilibrium price (7) and qty (3)?

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P=4&Q=8

To calculate the equilibrium price and quantity in a perfectly competitive market, you need to set the demand and supply functions equal to each other and solve for the equilibrium price (P) and quantity (Q).

1. Equilibrium price and quantity:
In this case, the demand function is given as Qd = 20 - 2P, and the supply function is given as Qs = -4 + P.

Setting Qd equal to Qs:
20 - 2P = -4 + P
Combining like terms:
20 + 4 = P + 2P
24 = 3P

Solving for P:
P = 24/3 = 8

Substituting the equilibrium price back into either the demand or supply function, you can find the equilibrium quantity:
Qd = 20 - 2(8) = 20 - 16 = 4
Qs = -4 + 8 = 4

So, the equilibrium price is P = 8, and the equilibrium quantity is Q = 4.

2. Producer surplus and consumer surplus:
To calculate producer surplus, you need to find the area below the equilibrium price and above the supply curve. In this case, it is a triangle with base 4 (Q) and height (P) of 8. The area can be calculated as:
Producer Surplus = (1/2) x (8) x (4) = 16

To calculate consumer surplus, you need to find the area below the demand curve and above the equilibrium price. In this case, it is a triangle with base 4 (Q) and height (20 - 8 = 12). The area can be calculated as:
Consumer Surplus = (1/2) x (12) x (4) = 24

So, the producer surplus is 16, and the consumer surplus is 24.

3. Monopoly situation:
If the market becomes a monopoly that charges $15, then the equilibrium price and quantity previously calculated are no longer applicable.

a. Loss in consumer surplus:
To calculate the loss in consumer surplus, subtract the consumer surplus under the monopoly price ($15) from the consumer surplus under perfect competition ($24):
Loss in Consumer Surplus = 24 - [(1/2) x (12) x (3)] = 24 - 18 = 6

b. Additional profit of the monopolist:
To calculate the additional profit of the monopolist, multiply the difference between the monopoly price ($15) and the average cost of production (which is not given) by the quantity produced under monopoly conditions (which is also not given).

c. Deadweight loss:
Deadweight loss occurs when there is a loss of economic efficiency due to the monopoly's ability to set the price above the marginal cost. It represents the area where potential surplus is not realized. To calculate deadweight loss, you need information about the marginal cost and quantity produced under monopoly conditions.

Note: For parts (a) and (b), the specific values required for calculations are missing. Therefore, it is not possible to provide precise numerical answers without these necessary data.