A Moving to another question will save this response.Question 15Steve is the only seller of water in town. The market for water is characterized by the following:Demand:P = 100 - 2QMarginal Revenue: MR = 100 - QMarginal Cost: MC = 20 +Q%3DWhat is the Monopolist equilibrium price and quantity?P= 40; Q= 30P = 80; Q = 30P= 40; Q = 70P= 80; Q = 40A Moving to another question will save this response.45,055HORDAtv

For monopolist, equilibrium quantity is where marginal revenue is equal to marginal cost. Given:…

Steve is the only seller of water in town. The market for water is characterized by the following: Demand: P= 100 - ½Q Marginal Revenue: MR = 100 - Q Marginal Cost: MC = 20 + Q What is the Monopolist equilibrium price and quantity? P= 40; Q= 30 OP= 80; Q = 30 P= 40; Q= 70 P= 80; Q= 40

Steve is the only seller of water in town. The market for water is characterized by the following: Demand: P= 100 - ½Q Marginal Revenue: MR = 100 - Q Marginal Cost: MC = 20 + Q What is the Monopolist equilibrium price and quantity? P= 40; Q= 30 OP= 80; Q = 30 P= 40; Q= 70 P= 80; Q= 40

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Explains it correctly
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