A firm is a monopoly with demand and cost functions given, Microeconomics

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A firm is a monopoly with demand and cost functions given

A firm is a monopoly with demand and cost functions given by P = 200 – 2Q and C(Q) = 2,000 + 3Q² respectively. Show your computations.

1. Compute total cost.

2. Compute total revenue.

3. What are the profits?

4. Show the equations for MR and MC.

5. Compute the profit maximizing quantity.

6. What is the price at the profit maximizing quantity?

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Microeconomics: A firm is a monopoly with demand and cost functions given

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Microeconomics: A firm is a monopoly with demand and cost functions given

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