Suppose That a Monopolist's Inverse Demand Curve Can Be Expressed

question 5

Essay

Suppose that a monopolist's inverse demand curve can be expressed as:
P = 20,000 - Q²
The monopolist's total cost curve is:
TC = 8,000Q.
a. Use calculus to determine the monopolist's marginal revenue curve.
b. Use calculus to determine the monopolist's marginal cost curve.
c. What is the monopolist's profit-maximizing level of output?
d. What price should the monopolist charge to maximize its profit?

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