Inelastic or unit elastic at the profit-maximizing price

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Reference no: EM1319132

Q. You are a manager of a monopoly, your Demand also cost functions are given by P = 200 - 2Q also C (Q) = 2,000 + 3Q^2 respectively.

a. Illustrate what price-quantity comb I country maximizes your firm's profits?

b. Calculate the maximum profits.

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

d. Illustrate what price-quantity comb I country maximizes incomes?

e. Calculate the maximum incomes.

f. Is Demand elastic, inelastic or unit elastic at the income-maximizing price-quantity combination?

Elucidate how all calculations.

Reference no: EM1319132

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