A Monopolist Has a Demand Function That Is Described by Q_d

question 88

Essay

A monopolist has a demand function that is described by Q_d = 100 - 2P. The monopolist's cost function is simply described by TC = 30 + 2Q. Therefore MC is constant at 2. The marginal revenue function for the monopolist is 100 - 4P. What is the profit-maximizing price and quantity for the monopolist? What is the profit that the monopolist earns at this output level?

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