trippydude4787 trippydude4787

03-06-2023
Business

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In a market demand and supply equations are:
The demand curve is given as P = 900 - 10Q
The supply curve is given as P = 300 + 20Q
Assume a monopoly condition for the above market.
a) What are the monopoly market price and quantity?
b) What is the consumer surplus?
c) What is producer surplus?
d) What is the total wealth?
e) What is the Deadweight Loss?

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