Question

Given the cost​ function:
Cost equals 0.2 q cubed minus 6 q squared plus 80 q plus Upper F
​,
and marginal​ cost:
0.6q2
minus
12q​ + 80
where q​ = output, and F​ = fixed costs​ = ​$100
.
The demand equation​ is:
p​ = 100
minus
2
q.
Determine the​ profit-maximizing price and output for a monopolist.
The​ profit-maximizing output level occurs at nothing
units of output ​(round
your answer to the nearest tenth​).
The​ profit-maximizing price occurs at ​$nothing
​(round
your answer to the nearest penny​).

Answer 1

Solution