Problem
A monopolist faces the following information:
The market demand: Q=300-2P
The cost Structure: TC=100+50Q
a) What is the profit-maximizing price-output combination and what are the levels of profits and consumer surplus at that point?
b) How would your answer to part a) change if the firm is forced into marginal cost pricing?
c) What is the dead-weight loss?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.