Question
A monopolist's demand function is estimated to be Q = 50 - P/6.The monopolist also has marginal cost MC = 120 + 6Q.What price should
A monopolist's demand function is estimated to be Q = 50 - P/6.The monopolist also has marginal cost MC = 120 + 6Q.What price should this monopolist charge to maximize profit?Please round to 2 decimals, for example 37.15 or 52.82.
Answer:
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Basic Econometrics
Authors: Damodar N. Gujrati, Dawn C. Porter
5th edition
73375772, 73375779, 978-0073375779
