a monopoly faces a linear demand curve p = 100 -0.01q firm's total cost function is c = 30000 + 50q determine the profit maximizing prices and output find the magnitude of the profit earned and deadweight loss
a monopoly faces a linear demand curve p = 100 -0.01q firm's total cost function is c = 30000 + 50q determine the profit maximizing prices and output find the magnitude of the profit earned and deadweight loss
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:a monopoly faces a linear demand curve p
= 100 -0.01q firm's total cost function is c
= 30000 + 50q determine the profit maximizing
prices and output find the magnitude of the profit
earned and deadweight loss
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