Suppose a monopoly faces demand Q-30-0.5P and that their cost curves are given b MC - ATC= 10. What is the equation of its marginal revenue curve? OP-60-4Q OQ-50-10P OQ-20-40 P-40-6Q

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A: TC = 800+ 10q + 1.5q^2  MC is derivative of TC with respect to Q So,  MC = 10+ 3q Price is 100

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A:

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Monopoly Market

When a company and its products dominate a sector or an industry, it is termed a monopoly. When a firm and its products control a market, then it is called a monopoly.