Question: For a monopolist's product, the cost function is c = 0 . 0 0 6 q 3 + 4 0 q + 6 0 0

For a monopolist's product, the cost function is

c=0.006q3+40q+6000

and the demand function is

p=4504q.

Find the profit-maximizing output.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Q:

A firm produces digital watches on a single production line serviced during one daily shift. The total output of watches depends directly on the number of labor-hours employed on the line. Maximum...

Q:

Firm 1 is a member of a monopolistically competitive market. Its total cost function is C = 900 + 60Q1 + 9Q12. The demand curve for the firms differentiated product is given by P = 660 - 16Q1. a....

Q:

. HW Score: 18.95%, 13.33 of 73 points Question 8, 13.6.30 > O P oints: 0 of1 For a monopolist's product, the cost function is c = 0.006q3 + 40q + 5000 and the demand function is p =450 - 4q. Find...

Q:

i (a) What is the relative price of xd in terms of xh from the prime ministers point of view? (b) Find the policy bundle that maximizes the prime ministers utility subject to the govern- ments budget...

Q:

Part one Explain the following. 1. Compared with a perfectively competitive market a monopoly is inefficient because a. it raises the market price above marginal cost and produces a smaller output....

Q:

1. (1DPD) Imagine there are ten different consumers in the market and each has individual demand curve given by P i = i - q , where i represents consumer number ( i={1..10} ). That is: a. the first...

Q:

1. (1DPD) Imagine there are ten different consumers in the market and each has individual demand curve given by P i = i - q , where i represents consumer number ( i={1..10} ). That is: the first...

Q:

Exercise one. Kindly answer with clear explanations. 1. Compared with a perfectively competitive market a monopoly is inefficient because a. it raises the market price above marginal cost and...

Q:

Please help me to answer the following: 1.Economic profits are: a.Total revenue minus total cost b.Marginal revenue minus marginal cost c.Total revenue minus total opportunity cost d.Total profits of...

Q:

.Helo kind ly help Question 1 (20 points) Consider the standard Mortensen-Pissarides model in continuous time. Labor force is normalized to 1. Unemployed workers with measure u search for jobs, and...

Q:

You are presented with the following information relating to three companies: Required: Calculate the following accounting ratios: (a) Return on capital employed (b) Capitalgearing. Profit and loss...

Q:

A voltage waveform has the following characteristics: a positive slope of 20 V/s for 5 ms followed by a negative slope of 10 V/s for 10 ms. If the waveform is applied to a differentiator with R = 50...

Q:

Who are the subjects in the study? To what populations do these subjects belong?

Q:

Please answer any thank you 1. A supplier is selling lumber to a building supply company. The building supply company requires that the overall length of a particular type of board measure between...

Q:

How is the labormanagement relationship at Kaiser Permanente different from some more traditional labormanagement relationships? Why do you think that is?

Q:

If you were an employee at Boeing in South Carolina, would you have voted for or against the union? Explain.

Q:

Assume you are the general manager of a small seafood company. Most training is unstructured and occurs on the job. Currently, senior fish cleaners are responsible for company has been profitable,...