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Consider a monopolist that faces an inverse demand for its product given by p=600-9Q The firm...

Consider a monopolist that faces an inverse demand for its product given by

p=600-9Q

The firm has a cost function C(Q)=3Q2+500

What is the profit-maximizing price for this monopolist? Provide your answer to the nearest cent (0.01)

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Answer #1

Ans. The profit-maximizing price for this monopolist is $375.00 and the profit maximizing quantity is 25 units.

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