4. a) If the marginal cost of a firm is 18e and the fixed cost is 67, find the total cost function. What is the total cost, average cost and variable cost at X=14? b) The demand equation of a monopoly firm is: P=138-3Q^2 and the marginal cost is: MC = 4Q +7, then find the total revenue and consumer's surplus.

4. a) If the marginal cost of a firm is 18e and the fixed cost is 67, find the total cost function. What is the total cost, average cost and variable cost at X=14? b) The demand equation of a monopoly firm is: P=138-3Q^2 and the marginal cost is: MC = 4Q +7, then find the total revenue and consumer's surplus.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter14: Monopoly

Section14.4: Price Discrimination

Problem 4QQ

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