Yongling is a monopoly seller of a good in a town. She has a fixed supply of 8 units and no other costs. The market demand curve for the product is P = 20–q. What is her profit if she sells to all her clients at the same price? Group of answer choices $24 $36 $72 $48 $96
Yongling is a monopoly seller of a good in a town. She has a fixed supply of 8 units and no other costs. The market demand curve for the product is P = 20–q. What is her profit if she sells to all her clients at the same price? Group of answer choices $24 $36 $72 $48 $96
Chapter18: Asymmetric Information
Section: Chapter Questions
Problem 18.4P
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Question
Yongling is a monopoly seller of a good in a town. She has a fixed supply of 8 units and no other costs. The market demand curve for the product is P = 20–q. What is her profit if she sells to all her clients at the same price ?
Group of answer choices
$24
$36
$72
$48
$96
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