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**

Each firm in a competitive market has a cost function of:
Upper C equals 36 plus q squaredC=36+q2,
so its marginal cost function is
MC equals 2 qMC=2q.
The market demand function is
Upper Q equals 48 minus pQ=48−p.
Determine the long-run equilibrium price, quantity per firm,
market quantity, and number of firms.
The output per firm is
nothing.
(round your answer to the nearest integer)

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p 2 equals 120 minus 2 Upper Q 2p2=120−2Q2.
The monopoly's marginal cost is m =
$3535.
Solve for the equilibrium price in each country.
The equilibrium price,
p1,
is
$nothing.
(Round your answer to the nearest penny.)
The equilibrium price,
p2,
is
$nothing.
(Round your answer to...

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