Economics/Math
posted by too old .
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?

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?