Question
Suppose the cost function of a yearly dose for a monopoly producer of an HIV medication is TC=4,000,000 + 4Q + 0.1Q^2. Suppose demand for
Suppose the cost function of a yearly dose for a monopoly producer of an HIV medication is TC=4,000,000 + 4Q + 0.1Q^2. Suppose demand for the product is described by the equation P = 6,004 - 0.4Q.
a) Using the above functions calculate the profit maximizing price and quantity.
b) Calculate total revenues and profits for the firm.
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Microbiology A Systems Approach
Authors: Marjorie Kelly Cowan
5th Edition
1259947963, 9781259947964
