Question
A monopolist firm faces inverse market demand given P = 1000 - Q with marginal (and average) costs of 100.If the firm sells all units
A monopolist firm faces inverse market demand givenP= 1000 -Qwith marginal (and average) costs of 100.If the firm sells all units at a single price, what is profit in this industry?
Select one:
a.
202,500
b.
205,000
c.
200,000
d.
197,500
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International Economics
Authors: Robert C. Feenstra, Alan M. Taylor
3rd edition
978-1429278515, 142927851X, 978-1319029517, 1319029515, 978-1429278447
