A patent monopolist faces a demand curve: P=10-1/3 Q and total cost F+2Q+2/3 Q^2, where F is non-negative.
i. What is the monopolist’s short-run profit-maximizing output and price? What is his short-run profit per period?
ii. In addition to solving for the profit-maximizing output and price, draw a graph showing the inear demand curve, the marginal revenue and marginal cost curves that demonstrate the situation described above
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