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University of California, Los Angeles *

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101

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Economics

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Feb 20, 2024

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5. Consider Spectrum to be a monopolist in the internet service provider market in Westwood. Suppose that Spectrum’s marginal cost of providing service to another household is constant. Specifically, they face the following cost function, C(q) = 6q, where ¢ is the number of households using Spectrum’s services and p is the price paid for that service. The firm’s experts in demand estimation have estimated the following demand function for internet service in Westwood: ¢q(p) = 80— 2p. What is the profit-maximizing price that Spectrum will charge each household in Westwood?
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