You are the manager of a monopoly, and your demand and cost functions are given by

profiletutor4helpyou
 (Not rated)
 (Not rated)
Chat

You are the manager of a monopoly, and your demand and cost functions are given by P = 300 – 3Q and C(Q) = 1,500 + 2Q2, respectively.

a. What price–quantity combination maximizes your firm’s profits?

Price: $[removed]
Quantity: [removed]units


b. Calculate the maximum profits.

$[removed]

d. What price–quantity combination maximizes revenue?

Price: $[removed]
Quantity: [removed]units


e. Calculate the maximum revenues.

$[removed]

A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm’s total costs are C(Q) = 40 + 10Q + 2Q2.

a. How much output should the firm produce in the short run?

[removed]units

b. What price should the firm charge in the short run?

$[removed]


c. What are the firm’s short-run profits?

$[removed]

 

  • 9 years ago
You are the manager of a monopoly, and your demand and cost functions are given by
NOT RATED

Purchase the answer to view it

blurred-text
  • attachment
    answer.docx