A monopolist's demand function is P = 1624 - 4Q and its total cost function is TC
Question:
Where q is output produced and sold.
a. At what level of output and sales (Q) and price (P) will Total Profits be maximized?
b. At what level of output and sales (Q) and price (P) will Total Revenue be maximized?
c. At what price (P) should the monopolist shut down?
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Related Book For
Managerial Economics and Strategy
ISBN: 978-0321566447
1st edition
Authors: Jeffrey M. Perloff, James A. Brander
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