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A firm is a monopoly with demand and cost functions given by p = 200 2q and c (q) = 2,000 + 3q2 respectively.

A firm is a monopoly with demand and cost functions given by p = 200 – 2q and c (q) = 2,000 + 3q2 respectively. Show your computations.

a) Show the equations for MR and MC.

b) Compute the profit maximizing quantity.

c) What is the price at the profit maximizing quantity?

d) Compute total revenue.

e) Compute total cost.

f) What are the profits?

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