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You are given the following information about the market e-bikes in Vietnam. Let's assume you have been granted a national monopoly. The formula for Demand
You are given the following information about the market e-bikes in Vietnam. Let's assume you have been granted a national monopoly. The formula for Demand is as follows: Qd: 1,000,000-4,000*P. It's Cost Function is 4,000,000 + 50Q Questions: (1) What is the price (P) where you will maximize REVENUE? (2) What is the price (P) where you that maximize PROFITS? (3) What is the Quantity (Q) where you that maximize PROFITS (hint: use solution to 2)? (4) What are TOTAL PROFITS the firm can make
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