Monopolists demand function

Assignment Help Business Economics

Reference no: EM131009697

A monopolist's demand function is P = 1624 - 4Q, and its total cost function is TC = 22,000 + 24Q -4Q2 + 1/3 Q3, where Q is output produced and sold. D) The total profits will be maximized at P =?

Reference no: EM131009697

Questions Cloud

Calculate the equilibrium price and quantity under two firm : Suppose two firms engage in Cournot (quantity) com- petition in a market described by the following demand curve: Q(p) = 40 − 2p. (1) Assume that the firms each have marginal costs equal to zero. Let q1 and q2 be the quantities produced by each firm ..

Why model something that does not exist : Why Model Something That Does Not Exist? The purely competitive firm does not exist in the real world anymore having disappeared in the USA by the early 1930's at the latest. The question is: so why do we model it in almost every textbook in Economic..

About economies and diseconomies of scale : What Can The Late George Steinbrenner and the New York Yankees Teach Us About Economies and Diseconomies of Scale? From 1972-1976 the Oakland A's and Cincinnati Reds won all five of baseball's World Series Championships. Despite this amazing success,..

Diminishing returns and then negative returns : In the law of diminishing returns, we see increasing returns at the start of production, production then exhibits diminishing returns until it peaks, and then will exhibit negative returns if we attempt to push beyond that. Provide two examples of ho..

Monopolists demand function : A monopolist's demand function is P = 1624 - 4Q, and its total cost function is TC = 22,000 + 24Q -4Q2 + 1/3 Q3, where Q is output produced and sold. D) The total profits will be maximized at P =?

Raise revenue and make the tax code more efficient : You just won a contest and have been appointed City of New York Tax Commissioner (you might be asking, why did I enter such a contest? :)). Your primary goal is two fold: raise revenue and make the tax code more efficient. You have to decide which go..

Calculate ratio of steady-state levels of income per capita : Two countries, X and Y, satisfy the Solow model with α = 1/3 and productivity A=1. In Country X, investment is 54% of GDP and the population grows at 1% per year. In Country Y, investment is 8% of GDP, and the population grows at 3% per year. In both..

Discuss this-but use some supply and demand terminology : Baseball players and movie stars get paid millions of dollars to hit baseballs and act, respectively. We want our kids to be well educated, and we always talk about how valuable public school teachers are, but we don't really want to pay them that mu..

What fraction of wages is due to human capital for worker : The returns to education are 13.4% per year for the first four years of schooling (grades 1- 4), 10.1% per year for the next four years (grades 5 - 8), and 6.8% per year for education beyond eight years. What fraction of wages is due to human capital..

User Account

All Pages