Business, 31.03.2020 18:28, shardaeheyward139

Suppose a monopolist faces consumer demand given by P=700−1Q with a constant marginal cost of $60 per unit (where marginal cost equals average total cost. assume the firm has no fixed costs). If the monopoly can only charge a single price, then it will earn profits of $_. (Enter your response rounded as a whole number.) Correspondingly, the consumer surplus is $_. However, if the firm were to practice price discrimination such that consumer surplus becomes profit, then, holding output constant at 320, the monopoly would have profits of $.

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Suppose a monopolist faces consumer demand given by P=700−1Q with a constant marginal cost of $60 pe...