EC460S09HW1 - Industrial Organization: EC460 Spring 2009...

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Industrial Organization: EC460 Spring 2009 Instructor: Thomas D. Jeitschko Assistant: Nakarin Amarase Homework 1 Due: January 28—in class Instructions You must work in groups of at least two and no more than three students on this homework. Hand in one copy of your work per group. Please ask me if you seek clarification on any question or the logistics of the homework and these instructions. Answer all questions. 1 Monopoly Consider a monopolist with the total cost of production: C = 200+5 Q +2 Q 2 and the following market demand: P = 75 - 3 Q . 1. Calculate output and price, and depict them in a diagram. 2. Calculate the monopolist’s profit. 3. Calculate Consumer Surplus and Dead Weight Loss, and identify them in your diagram.
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This note was uploaded on 03/29/2009 for the course ECON 460 taught by Professor Boyer during the Spring '08 term at Michigan State University.

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EC460S09HW1 - Industrial Organization: EC460 Spring 2009...

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