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redpig161Lv1
28 Sep 2019
A monopolist sells a product with the total cost function TC = 1200 + 0.5Q2 and the market demand curve is given by P = 300 - Q.
a) Find the profit-maximizing output and price for this monopolist.
b) Calculate the price elasticity of demand at the monopolist's profit-maximizing price.
A monopolist sells a product with the total cost function TC = 1200 + 0.5Q2 and the market demand curve is given by P = 300 - Q.
a) Find the profit-maximizing output and price for this monopolist.
b) Calculate the price elasticity of demand at the monopolist's profit-maximizing price.
syedazmath1627Lv10
3 Feb 2023
Joshua StredderLv10
28 Sep 2019
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