A monopolist faces a demand given by p 40 ndash 4y its, Business Economics

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A monopolist faces a demand given by p 40 ndash 4y its

A monopolist faces a demand given by p = 40 – 4y . Its cost function is c ( ) = 2 + 4 y .

a) What is the optimal level of output for a monopolist? b) What is a monopolist price? c) What is the total profit (or loss)? d) Show answers to (a), (b), and (c) on a graph that includes demand, MR, and MC e) What is the dead weight loss because of inefficiency of exercising monopoly power?

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