5.4. Consider a monopoly whose total cost function is TC-Q³-30Q2+302Q, whose consider marginal cost function is MC-3Q²-6

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

5.4. Consider a monopoly whose total cost function is TC-Q³-30Q2+302Q, whose consider marginal cost function is MC-3Q²-6

Post by answerhappygod »

5.4. Consider a monopoly whose total cost function is TC-Q³-30Q2+302Q, whose consider marginal cost function is MC-3Q²-60Q+302, whose demand is P-329-30Q, and whose marginal revenue function MR-329-60Q, where Q is output and P is price. Assume that the firm maximizes profit but cannot practice price discrimination
a) How much does the firm produce? b) How much does the firm charge?
c) How large are the firms profit? 3 of 4
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”