A monopoly has a total cost function C=500+ 2x2+10x for its product, which has demand function p=-1/3x2-2x+30.
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A monopoly has a total cost function C=500+ 2x2+10x for its product, which has demand function p=-1/3x2-2x+30. Find the consumer's surplus at the point where the monopoly has maximum profit. In the following equation p and C are in dollars and x is the number of units.
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Px Rx Cx 13x 3 2x 2 30x5002x 2 10x 13x 3 4x 2 ...View the full answer
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Related Book For 
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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