A Monopolist Has the Following Short-Run Total Cost,marginal Cost,and Demand

question 96

Essay

A monopolist has the following short-run total cost,marginal cost,and demand functions:
Total Cost:
Marginal Cost:
Demand:
where P is the price per unit of output,and Q is the quantity of output.
a)What price and quantity combination maximizes the monopolist's total revenue?
b)What is the price range over which a price decrease would lead to an increase in the monopolist's total revenue?
c)What price will the profit-maximizing monopolist charge? What will profits equal?
d)What is the allocatively efficient price-quantity combination?

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