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21 Jun 2020
10. A monopolist’s inverse demand function is P= 100 – Q. The company produces output at two facilities; the marginal cost of producing at facility 1 is MC1 (Q1) = 4Q1, and the marginal cost of producing at facility 2 is MC2 (Q2) = 2Q2.
a. Provide the equation for the monopolist’s marginal revenue function.
b. Determine the profit-maximizing level of output for each facility.
c. Determine the profit-maximizing price.
10. A monopolist’s inverse demand function is P= 100 – Q. The company produces output at two facilities; the marginal cost of producing at facility 1 is MC1 (Q1) = 4Q1, and the marginal cost of producing at facility 2 is MC2 (Q2) = 2Q2.
a. Provide the equation for the monopolist’s marginal revenue function.
b. Determine the profit-maximizing level of output for each facility.
c. Determine the profit-maximizing price.
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