A monopoly faces the total revenue schedule tr 300q

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A monopoly faces the total revenue schedule tr 300q - 2q2

Question: 1. A monopoly faces the total revenue schedule TR = 300q - 2q2 and the total cost schedule TC = 12q3 - 44q2 + 60q + 30

Are there two output levels at which MC = MR? Which is the profit-maximizing output?

2. If a firm faces the demand schedule p = 120 - 3q and the total cost schedule TC = 120 + 36q + 1.2q2 what output levels, if any, will

(a) maximize profit, and

(b) minimize profit?

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Macroeconomics: A monopoly faces the total revenue schedule tr 300q - 2q2

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Macroeconomics: A monopoly faces the total revenue schedule tr 300q - 2q2

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