Suppose a monopolist is characterized as follows: P= 1200-5Q C = 8600 +28Q+Q² MC = 28 +2Q demand curve for the monopolist total cost function for the monopolist marginal cost function for the monopolist To maximize its profit, the monopolist should produce units of output. (Enter your response rounded to two decimal places.) The company's profit-maximizing price is $ (Enter your response rounded to two decimal places.) The monopolist's profit is $ (Enter your response rounded to two decimal places.) Suppose the government imposes a specific tax of $150 per unit on the monopolist. To maximize profit, the monopolist should now produce units of output. (Enter your response rounded to two decimal places.)

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Suppose a monopolist is characterized as follows:
P= 1200-5Q
C = 8600 + 28Q+Q²
MC 28 + 2Q
demand curve for the monopolist
total cost function for the monopolist
marginal cost function for the monopolist
To maximize its profit, the monopolist should produce units of output. (Enter your response rounded to two
decimal places.)
The company's profit-maximizing price is $ (Enter your response rounded to two decimal places.)
The monopolist's profit is $ (Enter your response rounded to two decimal places.)
Suppose the government imposes a specific tax of $150 per unit on the monopolist. To maximize profit, the monopolist
should now produce units of output. (Enter your response rounded to two decimal places.)
When the tax is imposed, the monopolist's profit-maximizing price becomes $ (Enter your response rounded to two
decimal places.)
As a result of the tax, the monopolist raises its price by
Transcribed Image Text:Suppose a monopolist is characterized as follows: P= 1200-5Q C = 8600 + 28Q+Q² MC 28 + 2Q demand curve for the monopolist total cost function for the monopolist marginal cost function for the monopolist To maximize its profit, the monopolist should produce units of output. (Enter your response rounded to two decimal places.) The company's profit-maximizing price is $ (Enter your response rounded to two decimal places.) The monopolist's profit is $ (Enter your response rounded to two decimal places.) Suppose the government imposes a specific tax of $150 per unit on the monopolist. To maximize profit, the monopolist should now produce units of output. (Enter your response rounded to two decimal places.) When the tax is imposed, the monopolist's profit-maximizing price becomes $ (Enter your response rounded to two decimal places.) As a result of the tax, the monopolist raises its price by
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