There is only one company in the market that produces corn.
Suppose that the total cost function for the production of corn in
this company is TQ = Q2. And let's say that the market demand
function is given as Qd = 200—P. Let's assume that the price here
is $ and the quantity unit is ton. Answer the questions below
(a) Find the monopoly price and output that achieves the profit
maximization of the corn company.
(b) If you assume that the corn market is a fully competitive
market, figure out the magnitude of the dead weight loss that
occurs in the monopoly market by a monopoly called corn and graph
it and explain it.