(Answered) Profit-maximizing price and quantity

Economics

Question 1: A retailer has a monopoly on a type of handbag. The demand for the handbags is given by -0.1Q. The marginal cost is constant and equal to 40, so variable cost is 40Q. The fixed cost is 90,000. Find the monopolist's total revenue if it uses the profit-maximizing price and quantity.

(Format: answers must be within 2 of the true value to be counted as correct. Do not include commas, dollar signs, or plus signs.)

Question 2: A retailer has a monopoly on a type of handbag. The demand for the handbags is given by -0.1Q. The marginal cost is constant and equal to 40, so variable cost is 40Q. The fixed cost is 90,000. Find the monopolist's total revenue if it uses the profit-maximizing price and quantity.

(Format: answers must be within 2 of the true value to be counted as correct. Do not include commas, dollar signs, or plus signs.)

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