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The monopoly has the choice to pursue a single-price policy, that is, no price discrimination. Suppose the total demand function is equal to Q=100-3P, or
The monopoly has the choice to pursue a single-price policy, that is, no price discrimination. Suppose the total demand function is equal to Q=100-3P, or P=(100/3)-(1/3)Q and themarginal revenue for this market is given by MR=(100/3)-(2/3)Q. The equilibrium profit is equal to ________.
a.
$868
b.
$1,105.67
c.
$1,333.33
d.
$645.33
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