-) Suppose that market demand for a good is Q = 480 – 2p. The

marginal cost is MC = 2Q. Calculate the deadweight loss resulting from a monopoly in this market. (4 marks)
-b) Suppose a firm has the following total cost function: TC = 100 + 4q2. What is the minimum price necessary for the firm to earn profit? Below what price will the firm shut down in the short run?

Answered by Expert Tutors Question 1 Dead- weight loss = 320 Question 2 Minimum…Step-by-step explanationSubscribe to view explanation1 AttachmentJPGSubject: Business, Economics

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