11.22. Market demand is P = 64 - (Q/7). A multiplant monopolist operates threeplants, with marginal cost functions:MG(Q1) = 4Q1MC;(Q2) = 2 + 2Q2MC;(Q;) = 6 + Q3a) Find the monopolist's profit-maximizing price and output at each plant.b) How would your answer to part (a) change if MC2 (Q2) = 4?

11.22. Market demand is P = 64 - (Q/7). A multiplant monopolist operates three plants, with marginal cost functions: MC (Q1) = 4Q1 %3D MC;(Q2) = 2 + 2Q2 MC;(Qs) = 6 + Q3 a) Find the monopolist's profit-maximizing price and output at each plant. b) How would your answer to part (a) change if MC2 (Q2) = 4?

11.22. Market demand is P = 64 - (Q/7). A multiplant monopolist operates three plants, with marginal cost functions: MC (Q1) = 4Q1 %3D MC;(Q2) = 2 + 2Q2 MC;(Qs) = 6 + Q3 a) Find the monopolist's profit-maximizing price and output at each plant. b) How would your answer to part (a) change if MC2 (Q2) = 4?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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**Practice**
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