Question
QUESTION 2: Monopolies [25 points] The demand and total cost functions for a monopoly firm are: Q(P) = 39.5 - 0.5P TC(Q) = 60 -
QUESTION 2: Monopolies [25 points] The demand and total cost functions for a monopoly firm are: Q(P) = 39.5 - 0.5P TC(Q) = 60 - Q + 0.5 Q2 a) Plot the demand, marginal revenue, marginal cost, and average total cost curves. [5 points]
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
