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Given the following demand curve, total revenue and total cost. What is the profit made by this monopoly? P = 50 - 0.5Q TR = 30Q - 0.15Q TC 5Q Select one: a. 277.91 b. 694.97 C. 416.65 d. 200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Given the following demand curve, total revenue and total cost. What is the profit made by this
monopoly?
P = 50 – 0.5Q
21
TR = 30Q - 0.15Q
TC = 5Q
Select one:
a. 277.91
b. 694.97
C. 416.65
d. 200

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