Math Solutions

(See Solution) Suppose, they demand curve for a monopolist is Q D = 500 - P and the marginal revenue function is MR = 500 - 2P. The monopolist has a constant

Question: Suppose, they demand curve for a monopolist is Q D = 500 – P and the marginal revenue function is MR = 500 – 2P. The monopolist has a constant marginal and average total cost of $50 per unit.

  1. Find the monopolist's profit maximizing output and price.
  2. Calculate the monopolist's profit.
  3. What is the Lerner Index for this industry?

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