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Question: a metalproducing firm has market power its mc curve can...

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A metal-producing firm has market power. Its MC curve can be represented by MC=60+2q, and it faces a demand curve of P=200-1.5q. What is the profit-maximizing output? Price? Provide a graph to supplement your analysis. (Note MR=200-3q). What would the price and quantity be if this market were perfectly competitive (ie. these Demand and MC curves were those for the market as a whole, with many firms)? What is the deadweight loss associated with the market power in this case?

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