# Question: please answer this asap thanks suppose an energy market is...

###### Question details

Please answer this ASAP, Thanks: Suppose an energy market is a monopoly market. Demand is described by P=70−2Q, which means marginal revenue (MR) is described by MR=70-4Q, and supply (MC) is described by P = 3Q . Which of the following statements are true?

The equilibrium monopoly price and quantity are $50 per unit and 10 units, respectively. |

The monopoly price is $8 more than the perfectly competitive market price, all else equal. |

The transfer (monopoly rent) received by the monopolist is equal to $75. |

All of the statements are true. |

Two of the three statements are true. |