A monopolist's inverse demand function is estimated as P 250-2Q. The company produces output at two facilities; the marginal cost of producing at facility 1 is MC(Q) = 7Q, and the marginal cost of producing at facility 2 is MC2(Q2) 202- a. Provide the equation for the monopolist's marginal revenue function. (Hint: Recall that Q+02 P.) MR(Q) = 250 4 Q1- 4 Q2 b. Determine the profit-maximizing level of output for each facility. Instructions: Round your response to two decimal places. Output for facility 1: 35.000 Output for facility 2: 10 x c. Determine the profit-maximizing price. Instructions: Round your response to the nearest penny (two decimal places). $ 160

A monopolist's inverse demand function is estimated as P 250-2Q. The company produces output at two facilities; the marginal cost of producing at facility 1 is MC(Q) = 7Q, and the marginal cost of producing at facility 2 is MC2(Q2) 202- a. Provide the equation for the monopolist's marginal revenue function. (Hint: Recall that Q+02 P.) MR(Q) = 250 4 Q1- 4 Q2 b. Determine the profit-maximizing level of output for each facility. Instructions: Round your response to two decimal places. Output for facility 1: 35.000 Output for facility 2: 10 x c. Determine the profit-maximizing price. Instructions: Round your response to the nearest penny (two decimal places). $ 160

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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