Question
Consider a monopolist whose price is expressed by the equation P=200-20q.The total cost (TC) is expressed by the equation TC=145+30q (a) find the total revenue
Consider a monopolist whose price is expressed by the equation P=200-20q.The total cost (TC) is expressed by the equation TC=145+30q
(a) find the total revenue equation 3marks
(b) consider this monopolist can produce quantities of a good from 0 to 8 units. (1).Calculate the price at every level of production (2) Calculate the total revenue and total costs at every level of production and (3)Calculate the marginal revenue at every level of production.
(c) Calculate the total profit at every level of production
(d) The demand equation of a good is given by the expression P+2Q=20 and the total cost function is Q3+8Q2+200Q+2. a) find the level of output which maximize the revenue
b)Find maximum profit
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