A Monopolist Has Total Cost TC = Q² + 10Q

question 26

Multiple Choice

A monopolist has total cost TC = Q² + 10Q + 100 and marginal cost MC = 2Q + 10. It faces demand Q = 130- P (so its marginal revenue is MR = 130 - 2Q) . Its profit-maximizing output

• A)30
• B)25
• C)20
• D)10

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Definitions:

Debt

An amount of money borrowed by one party from another, typically under the agreement that it is to be repaid with interest.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise when the other party has reasonably relied on that promise to their detriment.

Consideration

Something of value promised to another when making a contract, which is required for the contract to be legally binding.

Contract Law

The body of law that regulates the making, enforcement, and interpretation of agreements between parties.