You are the manager of a monopoly and your demand and cost, Ask an Expert

Economics

You are the manager of a monopoly, and your demand and cost functions are given by P= 200 - 2Q and C(Q)= 2000 + 3Q^2, respectively.

a. what price-quantity combination maximizes your frm's profits?

b. calculate the maximum profits.

c. is demand elastic, inelastic, or unit elastic at the profit-maximizing price-quantity combination?

d. what price-quantity combination maximizes revenue?

e. calculate the maximum revenues.

f. is demand elastic, inelastic, or unit elastic at the revenue-maximizing price-quantity combination?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9444645

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