The following table shows the demand for a product produced by a monopolist, who has a constant marginal cost and an average total cost of 45 per unit. Quantity Price per unit 0 120 1 105 2 90 3 75 4 60 5 45 6 30 Calculate the total revenue and marginal revenue for the level of quantity. What are the profit-maximizing output level and price level of the product? In no more than three sentences, explain why. Calculate the monopolist’s profit. Calculate the Lerner Index for this industry.

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A: Profit: It is the excess amount of total revenue over the total cost.

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A: Q = 600 - 10P P = 60 - Q/10 TC = 200 + 20Q + 2Q2

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Q: 2. Given the following information, what quantity is profit-maximizing for a Monopolist?  Explain…

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A:

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Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.