You are the manager of a monopolistic firm, and your demand and cost functions are given by P = 300 − 3Q and TC(Q) = C(Q) = 1,500 + 2Q2, What is the MR of the firm? What is the MC of the firm? Determine the profit maximizing level of price and output? How much profit will the monopolist make?

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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  1. You are the manager of a monopolistic firm, and your demand and cost functions are given by

    P = 300 − 3Q and TC(Q) = C(Q) = 1,500 + 2Q2,

    • What is the MR of the firm?

    • What is the MC of the firm?

    • Determine the profit maximizing level of price and output?

    • How much profit will the monopolist make?

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