Question: A monopolist s inverse demand function is estimated as P = 4 5 0 3 Q . The company produces output at two facilities; the
A monopolists inverse demand function is estimated as P Q The company produces output at two facilities; the marginal cost of producing at facility is MCQQ and the marginal cost of producing at facility is MCQQ
a Provide the equation for the monopolists marginal revenue function. Hint: Recall that Q Q Q
MRQ
Q
Q
b Determine the profitmaximizing level of output for each facility.
Instructions: Round your response to two decimal places.
Output for facility :
Output for facility :
c Determine the profitmaximizing price.
Instructions: Round your response to the nearest penny two decimal places
$
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