Question

A monopoly firm has a total fixed cost of Rs 100 and has the following demand schedule: Quantity 1 2 3 4 5 6 7 8 9 10 Price 100 90 80 70 60 50 40 30 20 10 Find the short run equilibrium quantity, price and total profit. What would be the equilibrium in the long run? In case the total cost is Rs 1000, describe the equilibrium in the short run and in the long run.

Answer 1

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Answer 2

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