Calculate the maximum profits

Reference no: EM13692403

You are the manager of a monopoly and your demand and cost functions are given by P=300-3Q,C(Q)=1,500+2Q^2, respectively.

a) What is the profit-maximizing price and output?

b) Calculate the maximum profits.

c) Is demand elastic, inelastic or unit elastic at the profit-maximizing price-quantity combination?

Reference no: EM13692403

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