2. Monopoly, Practice Question Firm P is a monopolist for a new drug that makes people feel thinner, the total cost function is C(Q) 200+ 10Q + Q² The inverse demand function is p(Q) = 82-Q (a) By how much do revenues increase if this firm sells one more (small) unit of output? By how much does its cost go up if it produces one more (small) unit of output?
2. Monopoly, Practice Question Firm P is a monopolist for a new drug that makes people feel thinner, the total cost function is C(Q) 200+ 10Q + Q² The inverse demand function is p(Q) = 82-Q (a) By how much do revenues increase if this firm sells one more (small) unit of output? By how much does its cost go up if it produces one more (small) unit of output?
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Monopoly
Section: Chapter Questions
Problem 7PA
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