Question

Samantha and Nicole purchased a boat and opened a fishing business. Their boat is the only one who didn’t get destroyed and by a severe storm, letting Samantha and Nicole to be monopolist. The inverse demand for fish is P=20-.2Q (in millions of pounds) and their business’ marginal cost is $2. Using graphs to illustrate your answers, compare and contrast the perfectly competitive outcome and the monopolist outcome in terms of the equilibrium price and quantity, consumer surplus, producer surplus, and deadweight loss.

Answer 1

MR-200 19 for mano Pel 20-0-49 2 20- 0 26 2 2.0 mC. 45 90 202-S