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Suppose the inverse demand function for a monopolist's product is given by P=100-20 and the cast function is C(Q)=10+2Q. What is the profit-maximizing price of the firm?

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter12: Monopoly

Section: Chapter Questions

Problem 3DQ

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Suppose the inverse demand function for a monopolist's product is given by P=100-20 and the cast function is
C(Q)=10+2Q. What is the profit-maximizing price of the firm?

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