Question
In a monopoly situation, with a demand function: q = 2,000 - 4 p , and cost of c = $250, determine the optimal price
In a monopoly situation, with a demand function:q= 2,000 - 4p, and cost ofc= $250, determine the optimal price and resulting profits.
Group of answer choices
Optimal price = $400 and Profits = $60,000
Optimal price = $300 and Profits = $40,000
Optimal price = $500 and Profits = $0
Optimal price = $375 and Profits = $62,500
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Labor and Employment Law Text and Cases
Authors: David Twomey
15th edition
978-1133188285
