A Monopolist Has the Following Short-Run Total Cost,marginal Cost,and Demand $$T C = 32 + 2 Q + \frac { 1 } { 2 } Q ^ { 2 }$$

question 64

Essay

A monopolist has the following short-run total cost,marginal cost,and demand functions:
Total Cost: $$T C = 32 + 2 Q + \frac { 1 } { 2 } Q ^ { 2 }$$
Marginal Cost: $M C = 2 + Q$ Demand: $Q = 52 - 2 P$ where P is the price per unit of output,and Q is the quantity of output.
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A)What price and quantity combination maximizes the monopolist's total revenue?

• A)What price and quantity combination maximizes the monopolist's total revenue?

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Definitions:

Life

The existence of an individual human being or animal, characterized by growth, reproduction, activity, and continual change until death.

Kinship Care

Involves the care of children by relatives or close family friends when the biological parents are unable to do so, offering an alternative to traditional foster care.

Foster

Foster refers to providing care and a temporary home for someone or something that is in need, particularly children who require safe, supportive, and nurturing environments.

Relatives

Members of an individual's family other than their parents or children, such as siblings, aunts, uncles, and grandparents.