What is the firm total revenue curve

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Suppose that the production function is

y = x1x2

The input x1 sells for $1 per unit and input x2 sells for $2 per unit. The farmer has $200 tospend on x1 and x2. How much of each input will the farmer purchase in order to be at a pointof constrained output maximization?

A market demand curve for a monopoly firm is P = 120 - ½ Q, andmarginal cost curve is MC = 10 + Q.

a. What is the firm's total revenue curve?

b. What is the firm's marginal revenue curve?

c. What is the monopoly quantity?

d. What is the monopoly price?

e. What is price elasticity of demand at the monopoly price and quantity?

Reference no: EM132435880

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