Use for questions 4 -6: The Coolidge Corporation is the only producer of a particular type of laser (i.e., a monopoly market). The demand and marginalfor its product arerevenue curvesQD 8,300-2.1PP 3952.381 -0.4762QDMR 3952.381 -0.9524 QpDemand curveInverse Demand or Price CurveMarginal Revenue Curveand its total cost function isTC 2,200 480Q+2002МС %3 480 + 400where P is price (in dollars), TC is total cost (in dollars), and Q is monthly outputTo maximize profit, how many lasers should the firm produce and sell per month?а.Q 85.8b.Q 157C. Q =10.5d. Q84.8

Condition for profit maximization in monopoly is MR=MCMR =3952.381 -0.9524 Qd MC=480 + 40 Q3952.381…

Answered: Use for questions 4 -6: The Coolidge…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Price 180 168 156 144 132 120 108 96 84 72 60 48 36 24 12 0 0 36 72 108 144 180 Р 216 252 Quantity MR ---MC=AC 288 324 360 396 432 468 A monopoly face the following demand, marginal revenue and marginal cost functions Note that in this case MC (Q) = AC (Q) for all Q. Calculate the monopoly's profits if the monopoly charges the single profit maximizing price 504

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