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Economics/Math

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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?

  • Economics/Math -

    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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