Consider a monopolist that maximizes profits and charges all consumers the same price.  The inverse demand function is P = 600 – Q2, where P is the price and Q is output.  Marginal cost is always zero.  What price and level

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A: Demand Curve : P = 100 - 10Q MC = 20

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A: P =120-QMC=60TC=60QNow,TR= P x Q     =(120-Q) x Q…

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A: Q=421-2P2P=421-QP=421-Q2P=210.5-Q2Now,TR=P*QTR=(210.5-Q2)QTR=210.5Q-Q22Thus,MR=∂TR∂QMR=210.5-Q

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A: We have total cost = TFC + TVC MR = change in TR/ Change in Q MR = Change in TC/ Change in Q

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A: Q=378-2P2P=378-QP=378-Q2P=189-Q2Now,TR=P×QTR=189-Q2QTR=189-Q22Thus,MR=∂TR∂QMR=189-Q