A monopolist faces a market demand curve given by: Q = 70 – P. This monopolist perfectly price discriminate among its customers. If the monopolist can produce at constant average and marginal costs of AC = MC = 6, the monopolist's profits are equal to [t]. (NOTE: Write your first answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction. Add a leading zero and trailing zeros when needed. Use a period for the decimal separator and a comma to separate groups of thousands. HINT: See Example 14.4.)

A monopolist faces a market demand curve given by: Q = 70 – P. This monopolist perfectly price discriminate among its customers. If the monopolist can produce at constant average and marginal costs of AC = MC = 6, the monopolist's profits are equal to [t]. (NOTE: Write your first answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction. Add a leading zero and trailing zeros when needed. Use a period for the decimal separator and a comma to separate groups of thousands. HINT: See Example 14.4.)

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter13: Antitrust And Regulation

Section: Chapter Questions

Problem 10SQP

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