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You are the manager of a monopoly, and your demand and cost functions are given by P= 200 - 2Q and C(Q)= 2000 + 3Q^2, respectively.
a. what price-quantity combination maximizes your frm's profits?
b. calculate the maximum profits.
c. is demand elastic, inelastic, or unit elastic at the profit-maximizing price-quantity combination?
d. what price-quantity combination maximizes revenue?
e. calculate the maximum revenues.
f. is demand elastic, inelastic, or unit elastic at the revenue-maximizing price-quantity combination?
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The following is the demand function for a company that makes caps featuring names of college and professional teams in a variety of sports. Q=2,000-100P Where Q is cap sales and P is price. a.) How many caps could be sold at $12 each
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A firm is the only seller of the same good in two markets, market 1 and market 2. The inverse demand in market 1 is p1 = 200 ? q1, and the inverse demand in market 2 is p2 = 100 ? 2q2. The marginal cost of production is constant and equal to 40. t..
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