A monopolist faces the following demand curve, marginal revenue curve, total cost curve and marginal cost curve for its product:
A monopolist faces the following demand curve, marginal revenue curve, total cost curve and marginal cost curve for its product:
Q = 200 – 2P
MR = 100 – Q
TC = 5Q
MC = 5
⦁Suppose that a tax of $5 for each unit produced is imposed by state government. How much profit does the monopolist earn?
A) $4050
B) $4950
C) $450
D) $5
Show calculations
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