Answer to Question #71629 in Microeconomics for Saad
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?
Dear Muhammad Saad, please submit new question.
It is so nice to see such response and extremely helpful. But it didnt answer my b and c part.