Based on market research, a film production company in Ectenia obtains the following information about the demand and production costs of its new DVD:

Demand: P= 1000 -10Q
Total Revenue: TR= 1000Q- 10Q^2
Marginal Revenue: MR= 1000- 20Q
Marginal Cost: MC= 100+10Q

Scenario Price (Dollars) Quantity (DVDs)

Maximizes the company's profit:
Maximizes social welfare:

The deadweight loss from the monopoly is $ .

Suppose, in addition to the foregoing costs, the director of the film has to be paid. The company is considering four options:

I. A flat fee of 2,000 Ectenian dollars
II. 50 percent of the profits
III. 150 Ectenian dollars per unit sold
IV. 50 percent of the revenue

be mindful of your own reaction,use positive self-talk,   and debrief.

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answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.