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 A monopoly’s long-run total cost function is given by ?(?) = 4?, − 8? + 200 and the market demand curve (inverse demand curve) is given by ?(?) = 124 − 4?

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 A monopoly’s long-run total cost function is given by ?(?) = 4?, − 8? + 200 and the
market demand curve (inverse demand curve) is given by ?(?) = 124 − 4?.
a. Find the profit-maximizing quantity of output for the monopoly and the price the
monopolist will set.
b. Calculate the monopolist’s profits (?m) and consumer’s surplus (??m) .
c. What quantity of output would be produced if the monopolist acted like a perfect
competitor?
d. Calculate profits (?pc) and consumer surplus (??pc) corresponding to the competitive
equilibrium.
e. Find the deadweight loss due to the monopoly.