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For each of the following monopolists, calculate the profit-maximizing price and quantity

(a) Q^D=50 - 2P, TC(Q)=10Q

(b) Q^D=100 - 1/2 P, TC(Q)=3Q^2

(c) Q^D = 6P^(4),TC(Q)=30Q

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Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019

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Related questions

A firm with market power faces the demand function q=4000-40p. The firm's total cost function is TC(q)=10q+.001q^2+1000.

a. If the firm behaves as a single price monopoly, identify the firm's optional price and output level.

b. Demonstrate that the single price monopolist's profit maximizing choice of price and output also maximizes producer surpulus.

c. Identify the output level that would maximize total surplus.

d. Identify the output level that a perfect price discriminating monopolist would produce.

Suppose that each firm in a competitive industry has the following costs:

Total cost: 

Marginal Cost: 

where  is an individual firm's quantity produced. The market demand curve for this product is

Demand: 

where  is the price and  is the total quantity of the good.

1. What is each firm's fixed cost?

2. What is each firm's variable cost?

A. 

B. 

C. 

D. 

3. Which of the following represents the equation for each firm's average total cost?

A. 

B. 

C. 

D. 

Profit for a perfectly competitive firm can be expressed as:

a. Profit = P Q, where P is price and Q is output.

b. Profit = (PTC)  Q, where P is the price, Q is output and TC is Total cost.

c. Profit = PMC, where P is price and MC is Marginal cost.

d. Profit =PATC, where P is price and ATC is Average total cost.

e. Profit = (PQ) (ATCQ), where P is the price, Q is output and ATC is Average total cost.

 

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