Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507041
Author: Colander, David
Publisher: MCGRAW-HILL HIGHER EDUCATION
Question
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Chapter 14.A, Problem 3QE

a)

To determine

The profit-maximizing level of price and output of the monopolist when the fixed cost is $102.

b)

To determine

The average cost of the monopolist.

c)

To determine

Total profit of the monopoly firm.

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Students have asked these similar questions
A monopolist has a demand curve given by Q=100-P and a total cost curve given by TC= Q2 + 16. a.Find the monopolist’s profit maximizing quantity and price. Indicate them on the graph. b.How much economic profit will the monopolist earn? c. Calculate the price elasticity of demand at the equilibrium price level.
A monopolist has a demand curve given by Q=100-P and a total cost curve given by TC= Q2 + 16. a. Find the monopolist's profit maximizing quantity and price. Indicate them on the graph. 6. How much economic profit will the monopolist earn? Calculate the price elasticity of demand at the equilibrium price level.
QUESTION 1 A. The total cost function for a monopolist is given by TC = 44,000 + 180Q + 0.03Q² and the demand function is P = 420 – 0.06Q per unit of output. i. What is the profit maximising level of output? ii. Calculate the profit maximizing price. iii. Calculate total profit at the profit maximising level of output.
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