Consider a demand function x 100 - p where x is output and, Ask an Expert

Economics

Consider a demand function x = 100 - p where x is output and p is price. A monopolist has cost

C(x) = (1/3) x^3 - 7 x^2 +111x +50

Find the profit maximizing output (and price) such that x 0.

Check to see if you have a local max or min and also check the boundary conditions.(hint: Max(x)=TR -TC)

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Econometrics, Economics

Category:- Econometrics
Reference No.:- M9482728

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