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Profit Maximizing Level of Output Assignment | Homework For You

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December 7th, 2019

A monopolist produces a single good from the utilization of two plants, plant 1 and plant2.  It faces an inverse demand curve of: P = 1100 -2Q, where Q is total quantity produced, thus Q = q1+ q2.  q1= quantity produced in plant 1 and q2= quantity producedin plant two.  

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Plant 1 is an older plant and has a marginal cost of production equal to10q1.  Plant 2 is newer and its marginal cost of production is 5q2.  How much should this monopolist produce in total and how much will each plant be producing at the profit maximizing level of output? Get Economics homework help today

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