Answer
the firm produces at MR=MC
MC=dTC/dQ=3
MR=14-Q ........ an MR curve is double sloped than an inverse linear demand curve
equating both
14-Q=3
Q=11 units
the firm produces 11 units
P=14-0.5*11
=8.5
The price is $8.5
Suppose that a firm's demand curve is given by P 14 0.5 Q What is the profit-maximizing price if total cost is TC 3.Q?
Suppose that a firm's demand curve is given by P = 14 - 0.5Q What is the profit-maximizing quantity if total cost is TC = 3.Q?
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.
Demand: P= 120 - 0.5 Q Total Cost: TC= 1 Q 2 Part 1: Find the profit-Maximizing Q of the Monopoly Part 2: Find The profit-Maximizing price of the Monopoly Part 3: Find the Total Profit at the profit maximizing quantity Part 4: Find the amount of consumer surplus at the profit maximizing quantity Part 5: Find the deadweight loss at the profit maximizing quantity
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