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QUESTION
As the manager of a monopoly, you face potential government regulation. Your inverse demand is 50-2Q and your costs =14.
As the manager of a monopoly, you face potential government regulation. Your inverse demand is 50-2Q and your costs =14.
determine the monopoly price and output
determine the socially efficient price and output
what is the maximum amount your firm should be willing to spend on lobbying efforts to prevent the price from being regulated at the socially optimal level?
