Business, 10.12.2019 00:31 mommasgonzales01

Suppose market demand for a product is given by the equation p = 20 – q. for this market demand curve, marginal revenue is mr = 20 – 2q.

1 if the marginal cost of producing this good is 0, what quantity would a profit-maximizing monopolist produce?

2 if the marginal cost of producing this good is 4, what quantity would a profit-maximizing monopolist produce?

3 if the marginal cost of producing this good is 0, what price would a profit-maximizing monopolist charge for the product?

4 if the marginal cost of producing this good is 4, what price would a profit-maximizing monopolist charge for the product?

5 if the marginal cost of producing this good is 0, how much total consumer surplus would consumers receive in this market?

6 if the marginal cost of producing this good is 4, how much total consumer surplus would consumers receive in this market?

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Suppose market demand for a product is given by the equation p = 20 – q. for this market demand curv...

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