A monopolist has a total cost curve represented by TC = 50 + 2Q + Q², and a marginal cost curve represented by MC = 2 + 2Q. The monopolist faces the demand curve P = 100 –3Q. Price is in dollars and quantity is in thousands. What is the monopolist's profit? (pick the closest answer) %3D O $1,000,600 O $550,250 O $750,000 $330,330

A monopolist has a total cost curve represented by TC = 50 + 2Q + Q², and a marginal cost curve represented by MC = 2 + 2Q. The monopolist faces the demand curve P = 100 –3Q. Price is in dollars and quantity is in thousands. What is the monopolist's profit? (pick the closest answer) %3D O $1,000,600 O $550,250 O $750,000 $330,330

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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