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Homework answers / question archive / The diagram below shows a monopolist's MC and ATC curves as well as the industry demand and MR curves

The diagram below shows a monopolist's MC and ATC curves as well as the industry demand and MR curves

Economics

The diagram below shows a monopolist's MC and ATC curves as well as the industry demand and MR curves. MC 15 B ATC Price 10 ? 5 2 DAR DI MR 50 70 100 Output A.What is the profit-maximizing price and level of output for the monopolist?B.What are the total profits for the monopolist?C. What area shows the deadweight loss to society resulting from the monopolist's output desision?D. Now, suppose the industry' is made up of many small, price-taking firms (with the same technology). What are the equilibrium price and level of output in this case?E.Identify and explain minimum efficient scale in the above graph. Anuar

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