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A monopolist has a demand curve given by p=100-Q
a) A total cost curve given by TC=16+Q2.Find monopolist's profit-maximizing quantity and price.How much economic profit does the monopolist earn?
b) Now, suppose the monopolist's has a total cost curve given by TC+32+Q2(fixed costc doubled)Find the monopolist's profit-maximizing quantity and price. How much economic profit does the monopolist earn?
c) Now.suppose the monopolist has a total cost curve given by TC+16+4Q2(fixed costs are at original level but variable costs changed). Find the monopolist's profit-maximizing quantity and price.How much economic profit does the monopolist earn?
d) Interpret what type of cost(fixed,variable or both) is important for market price in monopolistic market?
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