# Answer to Question #71629 in Microeconomics for Saad

Question #71629

1. Use the following market demand and supply equations to answer questions a and b

Qd = 100 – P, and Qs = 10 + 2P and

ATC = 0.5Q

a) Calculate the competitive market’s profit-maximizing price, quantity, and profit

b)Now assume, the market above is a Monopolist’s market. Calculate the Monopolist’s profit-maximizing price, quantity, and profit.

c)Use one graph to show everything you calculated in part a and b of this question. When you look at the graph, how is the price, quantity, and profit of the monopolist different from the competitive market?

Qd = 100 – P, and Qs = 10 + 2P and

ATC = 0.5Q

a) Calculate the competitive market’s profit-maximizing price, quantity, and profit

b)Now assume, the market above is a Monopolist’s market. Calculate the Monopolist’s profit-maximizing price, quantity, and profit.

c)Use one graph to show everything you calculated in part a and b of this question. When you look at the graph, how is the price, quantity, and profit of the monopolist different from the competitive market?

Expert's answer

Need a fast expert's response?

Submit orderand get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

## Comments

Assignment Expert10.12.17, 14:55Dear Muhammad Saad, please submit new question.

Muhammad Saad07.12.17, 18:32It is so nice to see such response and extremely helpful. But it didnt answer my b and c part.

## Leave a comment