Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hello, I am having trouble deriving and graphing the marginal revenue curve, as well as questions b, c and d Safari File Edit View History

image text in transcribedimage text in transcribed

hello, I am having trouble deriving and graphing the marginal revenue curve, as well as questions b, c and d

image text in transcribedimage text in transcribed
Safari File Edit View History Bookmarks Develop Window Help Q Tue Mar 30 7:12 PM . . . [ laecon1.lyryx.com Question 3 [20 points] Suppose there is a monopolist in the market for a specific video game facing a demand curve: P = 36 - 0.5Q. The monopolist marginal cost curve is MC = 12, its total variable costs are TVC = 12Q and it faces a total fixed costs equal TFC = $279. Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places. a) Graph the demand curve and marginal cost curve, then derive and graph the marginal revenue curve. Marginal Cost Curve (MC) 36 Price ($/unit) (0,12) (48,12) 1297 IMC CO 6 12 18 24 30 36 42 48 54 60 66 72 78 Reset Quantity b) Calculate the equilibrium monopoly quantity and price. Monopolist's Quantity = 0 Monopolist's Price = $ 0 MAR FSafari File Edit View History Bookmarks Develop Window Help Q 2 Tue Mar 30 7:12 PM ...

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Marketing

Authors: Philip Cateora

16th Edition

0073529974, 9780073529974

More Books

Students also viewed these Economics questions

Question

3. It is the commitment you show that is the deciding factor.

Answered: 1 week ago