A Monopoly Has Two Production Plants with Cost Functions C₁

question 106

Multiple Choice

A monopoly has two production plants with cost functions C₁ = 40 + 0.2Q₁² and C₂ = 50 + 0.1Q₂².The demand it faces is Q = 480 − 5P.What is the profit-maximizing price?

• A) $40 per unit
• B) $45 per unit
• C) $50 per unit
• D) $60 per unit

Understand the concept of genetic variation and its sources.

Grasp the definition and principles of species and speciation.

Comprehend the structure and function of DNA, including its role in genetics and protein synthesis.

Identify and explain different forms of selection and adaptations in organisms.

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Definitions:

Proportion of Weights

The ratio of an individual weight to the total weight of all items combined, often used in statistical calculations to determine relative importance.

Tchebysheff's Theorem

A statistical rule stating that for any set of data, no matter the distribution, a certain proportion of values will fall within a specified number of standard deviations from the mean.

Empirical Rule

A statistical rule stating that for a normal distribution, nearly all of the data will fall within three standard deviations of the mean.

Median

The middle value in an ordered list of numbers, or the average of the two middle numbers when the list has an even number of observations.