# Monopoly single-price: Price & output decisions

##### Intros
###### Lessons
1. Monopoly Single-Price: Price & Output Decisions Overview:
2. Maximizing Profit with Total Revenue & Total Cost
• Use a Table to Keep Track of Information
• Calculate Total Revenue & Cost
• Calculate Profit
• Find the One with the Highest Profit
3. Maximizing Profit with MR = MC
• Graphically: Graph MR, MC, ATC and Demand
• Find the intersection of MR and MC
• Algebraically: Find equations and set MR = MC
• Solve and find q and p
• Find the Economic profit
4. Deadweight Loss in Single-Price Monopoly
• Monopoly is inefficient
• Consumer & Producer Surplus
##### Examples
###### Lessons
1. Graphically Maximizing Profit
Consider the following graph:

1. Find the output and price which maximizes profit.
2. Find the economic profit.
2. Consider the following graph:

1. Find the output and price which maximizes profit.
2. Find the economic profit.
3. Algebraically Maximizing Profit
Consider the following formulas:

p = 100 - 4q
MC = 50 + 2q
1. Find MR.
2. Find the output and price which maximizes profit.
4. Consider the following formulas:

p = 60 - 2q
MC = 20 + q
1. Find MR.
2. Find the output and price which maximizes profit.
5. Finding the Deadweight Loss, Consumer Surplus, & Producer Surplus
Consider the following graph: