3. If the demand function for a monopolist's product is p = XX0 – 0,05q and the cost function is c= 500 + 50q, which is p = price ; q = quantity ; and c = cost A. What is the profit equation? B. At what level of output will profit be maximized? C. At what price does this occur? D. What is the profit? E. Interpret the result of points b and d above and explain your answer!

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter14: Monopoly
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  • Explain learning of mathematics basic concept
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  • Analyze the problem of macro and micro economics also using of basic mathematics concept using formula in order to analyse business
3. If the demand function for a monopolist's product is p = XX0 – 0,05q and
the cost function is c= 500 + 50g, which is p= price ; q = quantity;
and c = cost
A. What is the profit equation?
B. At what level of output will profit be maximized?
C. At what price does this occur?
D. What is the profit?
E. Interpret the result of points b and d above and explain your answer!
Note : XX= 100
Transcribed Image Text:3. If the demand function for a monopolist's product is p = XX0 – 0,05q and the cost function is c= 500 + 50g, which is p= price ; q = quantity; and c = cost A. What is the profit equation? B. At what level of output will profit be maximized? C. At what price does this occur? D. What is the profit? E. Interpret the result of points b and d above and explain your answer! Note : XX= 100
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