Consider a profit-maximizing monopoly operating with marginal cost MC(Q) = 2+2Q and total cost VC(Q)=2Q+Q2 and FC = 0.05. The market demand is estimated to be Q=1000-10P. If the monopoly owner decides to behave as perfectly competitor. Then the profit-maximizing output in the short run is closest to (1) 30.33. (2) 44.54. (3) 46.66. (4) 100.54.

Consider a profit-maximizing monopoly operating with marginal cost MC(Q) = 2+2Q and total cost VC(Q)=2Q+Q2 and FC = 0.05. The market demand is estimated to be Q=1000-10P. If the monopoly owner decides to behave as perfectly competitor. Then the profit-maximizing output in the short run is closest to (1) 30.33. (2) 44.54. (3) 46.66. (4) 100.54.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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