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Monopolist facing a demand curve and cost function

Problem 1: An imperfectly competitive firm has the following demand and cost functions:

P = 230-20Q
C = 50+30Q

a. What is optimum output?

b. What is equilibrium price of this output per unit?

c. What is optimal revenue?

d. What is total profit?

Problem 2) A firm in a perfectly-competitive industry where market price of output prevailing is $50 per unit has a cost function where:

C = 40 + 5Q²

a. What is marginal cost in dollars?

b. What is marginal revenue in dollars?

c. What is optimal output in units?

d. What is maximal profit?

Problem 3) A monopolist facing a demand curve and cost function like the following:

P = 72 - 6Q

C = 15 + 6Q²

a. Has what equation for marginal revenue?

b. What is the equation for marginal cost?

c. What is optimal output?

d. What is price per unit?

What is profit?

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Microeconomics: Monopolist facing a demand curve and cost function

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Reference No:- TGS01746438

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