Consider a Monopolist That Has a Total Cost Curve of TC

question 13

Essay

Consider a monopolist that has a total cost curve of TC = 110Q - (0.25)Q².The market demand equation is Q_d = 155 - P.
(A)What are the total revenue,marginal revenue,marginal cost,equilibrium quantity,equilibrium price,and profits for the monopolist in this market?
(B)Suppose the government instructs the firm to produce using average cost pricing.What are the equilibrium quantity,equilibrium price,and profits?
(C)Suppose further that the government wants the firm to produce where supply equals demand.What will be the equilibrium quantity,equilibrium price,and profits?

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Definitions:

Preconscious Mind

Part of the mind containing thoughts and feelings that are not currently in consciousness but can be accessed with attention.

Unconscious Mind

A part of the mind that contains thoughts, memories, and desires not within the sphere of current consciousness, influencing behavior.

Conscious Mind

The aspect of mind that is aware of thoughts, feelings, and surroundings at any given moment.

Regression

A defense mechanism in psychoanalytic theory where an individual's behavior reverts to an earlier stage of development when faced with stress.