Question
TC = 600 + 10Q +6Q 2 MC = 10 + 12Q Demand: P = 314 - 2Q MR = 314 - 4Q The monopolist
TC = 600 + 10Q +6Q2
MC = 10 + 12Q
Demand: P = 314 - 2Q
MR = 314 - 4Q
The monopolist chooses their profit maximizing quantity.
Calculate their PROFIT.
Hint: remember Profit = TR - TC or Profit = (P - ATC)(Q)
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Survey of Economics
Authors: Irvin B. Tucker
8th edition
1111989664, 978-1133713357, 1133713351, 978-1111989668
