Suppose a monopolist has a marginal cost of $4 and a fixed cost of $48. Suppose the demand curve is Q=12-(P/2). What is the P and Q which maximises consumer surplus? Q=0, P=24 Q=10, P=4 Q=9, P=18 Q=6, P=12 Q=5, P-14
Suppose a monopolist has a marginal cost of $4 and a fixed cost of $48. Suppose the demand curve is Q=12-(P/2). What is the P and Q which maximises consumer surplus? Q=0, P=24 Q=10, P=4 Q=9, P=18 Q=6, P=12 Q=5, P-14
Chapter1: Making Economics Decisions
Section: Chapter Questions
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![Suppose a monopolist has a marginal cost of
$4 and a fixed cost of $48. Suppose the
demand curve is Q=12-(P/2). What is the P
and Q which maximises consumer surplus?
Q=0, P=24
Q=10, P=4
Q=9, P=18
Q=6, P=12
Q=5, P=14](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F45875c68-1cae-409e-989f-acf526549862%2Fd44f542b-4c4b-4a6e-9537-0118a554ed69%2Fbeyw4m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose a monopolist has a marginal cost of
$4 and a fixed cost of $48. Suppose the
demand curve is Q=12-(P/2). What is the P
and Q which maximises consumer surplus?
Q=0, P=24
Q=10, P=4
Q=9, P=18
Q=6, P=12
Q=5, P=14
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