Question
Suppose that you are a monopolist in the market of a specific coffee shop. Your inverse demand curve and cost function are the following: P
Suppose that you are a monopolist in the market of a specific coffee shop. Your inverse demand curve and cost function are the following:
P = 60- (Q)
TC(Q) = 250+ [Q^2]
The Equilibrium Price P is:
Can you please show your work and explain how to get equilibrium price?
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Economics
Authors: Campbell McConnell, Stanley Brue, Sean Flynn
21st Edition
1259723224, 9781259723223
