QUESTION 23 4 A monopolist has a total cost function TC= 2000 + 10Q (Note: MC = 10). Demand in this market is given by P = -5Q + 290. Let's assume that this monopolist can share only a single price. Answers need no commas, and please type a positive integer number on each section. 1. What is its marginal revenue curve equation? Answer MR =- 2. What is its optimal quantity for its maximized profit? Answer 3. What is its mark-up price for its maximized profit? Answer $ 1. What is its total cost at its optimal quantity? Answer $ 00 .00 *Q + units

QUESTION 23 4 A monopolist has a total cost function TC= 2000 + 10Q (Note: MC = 10). Demand in this market is given by P = -5Q + 290. Let's assume that this monopolist can share only a single price. Answers need no commas, and please type a positive integer number on each section. 1. What is its marginal revenue curve equation? Answer MR =- 2. What is its optimal quantity for its maximized profit? Answer 3. What is its mark-up price for its maximized profit? Answer $ 1. What is its total cost at its optimal quantity? Answer $ 00 .00 *Q + units

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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