Question
A single-price monopolist faces a demand function given by: QD=50-10P The firm's revenue function is given by: R=5Q-0.1Q^2 The firm has a marginal cost function
A single-price monopolist faces a demand function given by: QD=50-10P The firm's revenue function is given by: R=5Q-0.1Q^2 The firm has a marginal cost function given by: MC= 1+ 0.2Q
17. Determine the monopolist quantity. ___________________ 10 units
18. Determine the monopolist price. ____________________ $4.00
answers are given, please show work without graphs
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Managerial Economics A Problem Solving Approach
Authors: Luke M. Froeb, Brian T. McCann
1st Edition
0324359810, 9780324359817
