P=220-3q. P is the price of the good and Q is the quantity demanded. The Marginal cost

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P=220-3q. P is the price of the good and Q is the quantity demanded. The Marginal cost of production is constant and equal to $40. There are no fixed costs of production.

A- What price should the monopolist charge in order to maximize profit?

B- If the market were perfectly competitive, what quantity would be produced?

Related Book For answer-question

Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Posted Date: Mar 25, 2022 01:23 AM

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P=220-3q. P is the price of the good and Q is the quantity demanded. The Marginal cost

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Gven A NSW ER Demand curve Margilual ost 60 P2 210 SQ Revenue e Pxa R 210 0 SQ2 Margiha... View the full answer

Principles of economics

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