23 Jul WHAT IS THE MONOPOLISTS TOTAL REVENUE AT THAT PRICE?
Assume that a firm is the unique producer in a market. This monopolist faces a demand curve P = 210 Show more Assume that a firm is the unique producer in a market. This monopolist faces a demand curve P = 210 4Q and initially faces a constant marginal cost MC = 10. 1. Calculate the profit-maximizing quantity for this monopolist. 2. What will be this monopolists optimal price? 3. What is the monopolists total revenue at that price? 4. Suppose that the monopolists marginal cost increases to MC = 20. What is the monopolist optimal quantity now? 5. What will be the monopolists optimal price? 6. What is the monopolists total revenue at the price you found in part (e)? Show less
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