Suppose a Monopoly Firm Has an Annual Demand Function of Q^d

question 52

Multiple Choice

Suppose a monopoly firm has an annual demand function of Q^d = 20,000 - 250P,annual variable costs of VC = 16Q + 0.002Q² and marginal cost of MC = 16 + 0.004Q,where Q is the annual quantity of output.In addition,the firm has an avoidable fixed cost of $25,000 per year.If this firm maximizes its profit,what is the value of its producer surplus?

• A) $156,500
• B) $181,500
• C) $242,000
• D) $217,000

Understand retrieval as the process of accessing stored information.

Recognize the information-processing model of memory and its comparison to computer processing.

Understand the importance and techniques of memory enhancement, such as chunking.

Acknowledge the influence of cognitive psychology research on understanding memory processes.

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