Suppose that the total cost equation for a monopolist is given by:

T.C = 500 + 20Q². Let price function be given by: P = 400 – 20Q.

Copy and complete the following table.

Qty	Total Cost	Total Revenue	Marginal cost	Marginal revenue	profit
1
2
3
4
5
6
7
8
9
10
11

Determine the profit-maximizing price and quantity from the above information.

Answer rating: 100% (QA)

Solution Qty Total Cost Total Revenue Marginal cost Marginal reven... View the full answer