Question: Really need help with these bad Suppose that the demand for bentonite is given by Q = 40 0.5P, where Q is in tons of
Really need help with these bad


Suppose that the demand for bentonite is given by Q = 40 0.5P, where Q is in tons of bentonite per day, and P is the price per ton. Bentonite is produced by a monopolist at a constant marginal and average total cost of $10 per ton. a. Derive the inverse demand and marginal revenue curves faced by the monopolist. Place the correct solutions under the corresponding headings. You will only use two of the four equations from the answer hank. Marginal Revenue Answer Bank Incorrect b. Equate marginal cost and marginal revenue to determine Enter your answer to one place after the decimal. Imomt Answer Bank Incorrect b. Equate marginal cost and marginal revenue to determine the profit-maximizing level of output. Enter your answer to one place after the decimal. Incorrect c. Find the profit-maximizing price by plugging the optimal quantity back into the demand curve. P = $ Incorrect d. How does the answer change if marginal cost is instead given by MC = 20 + Q? P = $ Incorrect Incorrect
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