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Monopoly Demand Function Assignment | Homework For You

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December 9th, 2019

Given a Monopoly demand function of P= 245-16Q and total cost function of TC = 15,000 + 45Q – 16Q2 + 2/33 where Q is output produced and sold.

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Homework For You

a. At what level of output (Q) and price (P) will Total Profits be maximized?

b. If the firm behaved like a perfectly competitive firm what would be the level of output (Q) and price (P).

c. Roughly sketch this problem, marking all quantities and prices that were found. Get Economics homework help today

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