Suppose a Monopolist Faces a Demand Curve Q = AP^-B $P = C ( 1 - 1 / b )$

question 1

Multiple Choice

Suppose a monopolist faces a demand curve Q = aP^-b and that the monopolist has a constant marginal cost of C. The monopolist's profit-maximizing price is

• A) \(P = C ( 1 - 1 / b )\)
• B) \(P = C ( 1 / b )\)
• C) \(P = C \left( \frac { 1 } { 1 - 1 / b } \right)\)
• D) P = C(-1/b)

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