Microeconomics
Microeconomics
13th Edition
ISBN: 9781337617406
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question

A monopolist has a demand for its product that is P = A + BQ . It has no fixed costs. Marginal cost is constant at MC = C. Find the profit-maximizing quantity Q to produce and find the profit maximizing price P.
P = A + BQ
P= 315 + -8Q
MC=C
MC= 75

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