Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A monopolist faces the demand function Q = 7,000/( p + 3)-2. If she charges a price of p, her marginal revenue will be

A monopolist faces the demand function \( Q=7,000 /(p+3)^{-2} \). If she charges a price of \( p \), her marginal revenue wil 

A monopolist faces the demand function Q = 7,000/( p + 3)-2. If she charges a price of p, her marginal revenue will be O a. 2 p + 1.50. O b.-2( p + 3)-3 c. p/2 + 3. d. 3p/2 - 3/2. Oe. (p+B)-2.

Step by Step Solution

3.45 Rating (165 Votes )

There are 3 Steps involved in it

Step: 1

he first step is to find the monopolists total revenue function This can ... 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

Biochemistry

Authors: Mary K. Campbell, Shawn O. Farrell

8th edition

9781305176621, 1285429109, 1305176626, 978-1285429106

More Books

Students also viewed these Economics questions

Question

Why do bars offer free peanuts?

Answered: 1 week ago