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?

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Assignment Expert

10.12.17, 14:55

Dear Muhammad Saad, please submit new question.

Muhammad Saad

07.12.17, 18:32

It is so nice to see such response and extremely helpful. But it didnt answer my b and c part.

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