part D E F i need in words not handwritten or pic 5(Chapter 11 Monopoly)The inverse demand for an app isP = PD (Q) = 30 - 0,4. Q.The inverse demand function indicated the price P, were the quantity Q will be sold. The app is soldjust from the app developer. The programing of the app creats fixed costs of 420. The marginal costsare 2.a) Draw the demand curveb) Calculate the marginal revenue and the average cost function. Draw the marginal revenueand marginal cost function in the diagram of a).c) Determine the profit maximizing quantity and price. What are the average costs? What is theprofit? Draw the average cost curve and the profit in the diagram. Show the consumersurplus (CS) and producer surplus (PS).d)What are the price and quantity if you a have fixed costs of 490? What is the profit?e) Consider the case that the developer of the App wants to maximize the overall welfare andnot just his profit. Determine price and quantity. What is the profit? Show CS and PS.f) Draw the welfare losses of the Monopoly, which occur opposite to perfect competition.Calculate the net welfare losses.

Profit maximising is the point of equilibrium where MR= MC . Monopoly charges high price and and…

d) What are the price and quantity if you a have fixed costs of 490? What is the profit? e) Consider the case that the developer of the App wants to maximize the overall welfare and not just his profit. Determine price and quantity. What is the profit? Show CS and PS. f) Draw the welfare losses of the Monopoly, which occur opposite to perfect competition. Calculate the net welfare losses.

d) What are the price and quantity if you a have fixed costs of 490? What is the profit? e) Consider the case that the developer of the App wants to maximize the overall welfare and not just his profit. Determine price and quantity. What is the profit? Show CS and PS. f) Draw the welfare losses of the Monopoly, which occur opposite to perfect competition. Calculate the net welfare losses.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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