The inverse demand curve a monopoly faces is p equals 120 minus Upper Qp=120−Q. The firm's...

Question

Question

The inverse demand curve a monopoly faces is

p equals 120 minus Upper Qp=120−Q.

The firm's cost curve is

Upper C left parenthesis Upper Q right parenthesis equals 40 plus 5 Upper QC(Q)=40+5Q.

What is the profit-maximizing solution?

The profit-maximizing quantity is

(Round your answer to two decimal places.)

The profit-maximizing price is

(round your answer to two decimal places.)

What is the firm's economic profit?

The firm earns a profit of

(round your answer to two decimal places.)

Answer 1

Answer #1

Answer 2

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