A Monopolist Seller of Irish Ceramics Faces the Following Demand

question 19

Multiple Choice

A monopolist seller of Irish ceramics faces the following demand function for its product: P = 62 - 3Q.The fixed cost is $10 and the variable cost per unit is $2.What is the maximizing QUANTITY for this monopoly? Hint: MR is twice as steep as the inverse demand curve: MR = 62 - 6 Q.(Pick closest answer)

• A) Q = 10
• B) Q = 15
• C) Q = 22
• D) Q = 37
• E) Q = 41

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