Discuss how much profit is earned per day


Assume that the demand for betonies is given by the Q = 40 ? 0.5P, where Q is in tons of betonies per day and P is the price per ton. Betonies are produced by a monopolist at a constant marginal and average total cost of $10 per ton. Discuss how much profit is earned per day if the profit-maximizing quantity of betonies is sold at the profit-maximizing price?

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Macroeconomics: Discuss how much profit is earned per day
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