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!
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
Section: Chapter Questions
Problem 4QR
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Answer The question the Image Subparts D-E
- Explain learning of mathematics basic concept
- Apply mathematic formula concept in particular case
- Analyze the problem of macro and micro economics also using of basic mathematics concept using formula in order to analyse business
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