Question 1 was answered and it is as follows "A market has an inverse demand curve of P = 40-Q and marginal cost of MC = 4+2Q. Find the competitive equilibrium price, quantity, and surplus. Show your...


Question 1 was answered and it is as follows


"A market has an inverse demand curve of P = 40-Q and marginal cost of MC = 4+2Q. Find the competitive equilibrium price, quantity, and surplus. Show your work."



Question 2 that needs to be answered:


"In the same market as question 2, assume the marginal cost belongs to a monopolist. Find monopoly equilibrium price, quantity, surplus, and dead weight loss. Show your work."



Jun 10, 2022
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