Prove which at the revenue-maximizing quantity

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Reference no: EM139146

Q1. Demand for a product of a monopoly is given as Q=100-2P.

(a) Graph demand and marginal revenue of the firm.

(b) Find the revenue maximizing cost and quantity of the monopoly.

(d) Find the cost elasticity when cost of the product is $30.

Q2. A monopoly has the cost function, TC = 1/3Q3 - 5Q2 + 23Q + 25, where TC is the total cost and Q is the output. Illustrate what is the profit-maximizing level of output, if the market demand is given as Q = -2p + 90.

Reference no: EM139146

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