Question
Now, suppose you are the manager of a monopoly, and the research department of your firm has estimated your demand and cost functions as P=190-2Q,
Now, suppose you are the manager of a monopoly, and the research department of your firm has estimated your demand and cost functions as P=190-2Q, the total cost is TC=600+10Q+2.5Q2 and the marginal cost is given by MC=10+5Q.
Determine the firm's total revenue (TR), total cost (TC) then determine the maximum profits (*).
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International Business
Authors: John Daniels, Lee Radebaugh, Daniel Sullivan
16th edition
134200055, 978-0134201542, 013420154X, 978-0134200057
