Question

A monopolist faces demand Q = 60 – P, and has a TC of Q +...

A monopolist faces demand Q = 60 – P, and has a TC of Q + 2Q2. Then to maximize profit, the monopolist should produce ____ units of Q.

Group of answer choices

A. 9.83

B. 12.25

C. 14.11

D. 16.72

0 0
Add a comment Improve this question Transcribed image text
Answer #1

for propt maximization in Monopoly MC=AR) Here, TCa 2020 Mc = d(JC) do = d(20 2to) dQ The =40+1 Pa Gora 2. TR = (60-Q) xQ -

Add a comment
Know the answer?
Add Answer to:
A monopolist faces demand Q = 60 – P, and has a TC of Q +...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The total cost of producing Q units of output to a monopolist is TC(Q) = 2Q2....

    The total cost of producing Q units of output to a monopolist is TC(Q) = 2Q2. The market demand is given byQ= 10−2P. (a) What are the total revenue and marginal revenue functions (b) What price should the monopolist set to maximize its profit? Illustrate your answer on a graph.

  • A monopolist faces a demand curve given by P = 200-10Q

    A monopolist faces a demand curve given by P = 200-10Q, where P is the price of the good and Q is the quantity demanded.  The marginal cost of production is constant and is equal to $60.  There are no fixed costs of production.A)   What quantity should the monopolist produce in order to maximize profit?B)   What price should the monopolist charge in order to maximize profit?C)   How much profit will the monopolist make?D)  What is the deadweight loss created by this monopoly...

  • A monopolist faces inverse market demand of P = 140- TC(Q) = 20° + 10Q +...

    A monopolist faces inverse market demand of P = 140- TC(Q) = 20° + 10Q + 200. and has Total Cost given by (20 points) Find this monopolist's profit maximizing output level. Find this monopolist's profit maximizing price How much profit is this monopolist earning?

  • A profit maximizing monopolist faces demand curve P-120 -Q and total cost of TC-900 MQ Determine...

    A profit maximizing monopolist faces demand curve P-120 -Q and total cost of TC-900 MQ Determine the value of M for which the monopolist will earn zero economic profit.

  • Suppose a monopolist faces a market demand of P = 48 - 4Q. The monopolist has...

    Suppose a monopolist faces a market demand of P = 48 - 4Q. The monopolist has a constant marginal cost of 8 per unit. If the monopolist can only charge a single price to consumers, how many units should the monopolist produce to maximize profits? 10 5 12 6

  • 4. A competitive firm faces a price of P = 120. The firm has costs c(q)...

    4. A competitive firm faces a price of P = 120. The firm has costs c(q) = . What quantity will firm the produce in order to maximize their profit? 5. A monopolist faces demand D= 120 – 2P. The firm has costs c(q) = {9?. What quantity will the firm produce in order to maximize their profit?

  • Use the following to answer questions (7) through (9): A monopolist faces the following market demand:...

    Use the following to answer questions (7) through (9): A monopolist faces the following market demand: Q = 1000 - P, where Q is quantity demanded and P is the price. Suppose the firm’s total cost is given by: TC = 200Q. Hence, marginal cost equals average total cost equals 200. [7] Absent the ability to price discriminate, the monopolist wishing to maximize profit will produce and sell a quantity equal to: A.         200 B          400 600 800 [8] Absent...

  • 1. Assume that a monopolist has TC(Q) = 6Q and the market demand is P(Q) =...

    1. Assume that a monopolist has TC(Q) = 6Q and the market demand is P(Q) = 50 – 20. (a) What is the firm's marginal cost? (b) What is the profit-maximizing price and quantity (P*, Q*)? (c) What is the total revenue at (P*, Q*)? (d) What is the total cost at (P*, Q*)? (e)What is the profit at (P*, Q*)? (f) What is the consumer surplus at (P*, Q*)? (g) What is the deadweight loss at (P*, Q*)?

  • A monopolist faces inverse demand P = on TC(Q) = cQ. (a) Find the optimal price,...

    A monopolist faces inverse demand P = on TC(Q) = cQ. (a) Find the optimal price, P, and quantity, QM (b) Solve for the monopolist's optimal profits, TM (c) Graph the equilibrium and show consumer surplus, producer surplus and deadweight loss. Be 150 -3Q and total cost functi careful with the marginal cost curve. (d) Compute CS and PS. These will be functions of the cost parameter c. (e) Compute DWL. Similarly, it will be functions of the cost parameter...

  • Question 3 A monopolist faces a demand curve given by P = 105 - 30 where...

    Question 3 A monopolist faces a demand curve given by P = 105 - 30 where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to $15. There are no fixed costs of production. Hint: To answer the following questions, it may be helpful to draw a graph! What quantity should the monopolist produce in order to maximize profit? What price should the monopolist charge in...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT