A Monopolist Has Total Cost TC = Q² + 10Q

question 3

Multiple Choice

A monopolist has total cost TC = Q² + 10Q + 100 and marginal cost MC = 2Q + 10.It faces demand Q = 130- P (so its marginal revenue is MR = 130 - 2Q) .Its profit-maximizing output is

• A) 30
• B) 25
• C) 20
• D) 10

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Definitions:

Decentration

Simultaneous focusing (centering) on more than one aspect or dimension of a problem or situation.

Concrete Operational

A stage in Piaget's theory of cognitive development (ages 7-12) where children gain a better understanding of concrete events and logical operations, but struggle with abstract concepts.

Phonics

A method of teaching reading and spelling that stresses symbol-sound relationships, used especially in early grades.

Language

A system of communication used by a particular community or country, consisting of written, spoken, or gestural symbols.