3. Assume a firm is facing the market demand curve: q = 100-2p, its total cost function is: c(q) = 2q². a. What is the firm's marginal revenue? b. What is the firm's marginal cost? c. What is the output level "q" when the firm is maximizing its profit? d. What is the firm's maximum profit?

3. Assume a firm is facing the market demand curve: q = 100-2p, its total cost function is: c(q) = 2q². a. What is the firm's marginal revenue? b. What is the firm's marginal cost? c. What is the output level "q" when the firm is maximizing its profit? d. What is the firm's maximum profit?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter23: Monopoly

Section: Chapter Questions

Problem 14QP

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3. Assume a firm is facing the market demand curve: q = 100-2p, its total cost
function is: c(q) = 2q?.
a. What is the firm's marginal revenue?
b. What is the firm's marginal cost?
c. What is the output level "q" when the firm is maximizing its profit?
d. What is the firm's maximum profit?

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