Suppose a monopolist has a marginal cost of $4 and a fixed cost of $48. Suppose the demand curve is Q=12-(P/2). What is the P and Q which maximises consumer surplus? Q=0, P=24 Q=10, P=4 Q=9, P=18 Q=6, P=12 Q=5, P-14

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter9: Monopoly
Section: Chapter Questions
Problem 11SQ
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Suppose a monopolist has a marginal cost of
$4 and a fixed cost of $48. Suppose the
demand curve is Q=12-(P/2). What is the P
and Q which maximises consumer surplus?
Q=0, P=24
Q=10, P=4
Q=9, P=18
Q=6, P=12
Q=5, P=14
Transcribed Image Text:Suppose a monopolist has a marginal cost of $4 and a fixed cost of $48. Suppose the demand curve is Q=12-(P/2). What is the P and Q which maximises consumer surplus? Q=0, P=24 Q=10, P=4 Q=9, P=18 Q=6, P=12 Q=5, P=14
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