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Recalling the information from the Botox Patent Monopoly application, inverse demand was p = 800 3750, marginal revenue was MR = 800 - 7500, marginal
Recalling the information from the "Botox Patent Monopoly" application, inverse demand was p = 800 3750, marginal revenue was MR = 800 - 7500, marginal cost was MC : 25, a constant, and quantity is in millions of units. What would happen to the monopoly-optimal price and quantity if the government had collected a specific tax of $50 per vial of Botox? The monopoly-optimal price would be 35D. (round your answer to two decimal places) The monopoly-optimal quantity would be |:| million units. (round your answer to two decimal places)
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