Suppose a monopolist faces the following demand curve: P = 314 — 7Q. If the long run marginal cost of production is constant and equal to $20. A) What is the monopolist’s proﬁt maximizing level of output? B) What price will the proﬁt maximizing monopolist produce? C) How much proﬁt will the monopolist make if she maximizes her proﬁt? D) What would be the value of consumer surplus if the market were perfectly competitive? B) What is the value of the deadweight loss when the market is a monopoly?
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