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=300-3Q and C(Q)=1500+2Q^2, respectively. MR(Q)=300-6Q and MC(Q)=4Q

a) What level of output should this monopolist produce in the short run?

b) What price should this monopolist charge in the short run?

c) What is the monopolist's total revenue at this level of output?

d) What is the firm's total fixed cost at this level of output?

e) What is the firm's total variable cost at this level of output?

f) What is the firm's total cost at this level of output?

g) Calculate the maximum profits

h) What level of output maximizes revenue?

i) What price should this firm charge to maximize revenue?

j) Calculate the maximum revenue?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91388423

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