Question
Consider a monopoly with a sort run total cost of TC = 12 + 1/3 Q^2 - and marginal cost: MC = 2/3 Q -
Consider a monopoly with a sort run total cost of TC = 12 + 1/3 Q^2 - and marginal cost: MC = 2/3 Q - facing a market demand curve of P = 40 - 1/2Q.
Graph and calculate the consumer surplus and profit.
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Macroeconomics
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
1st Edition
978-0132109994, 0132109999
