A monopoly's cost function (C) is where Q is output. Demand is C=0.2Q³ -9.5Q² +380Q +150 p=590-2Q. Determine the profit-maximizing price and output for the monopolist. The profit-maximizing output level is units of output. (Enter a numeric response using an integer.)

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter14: Monopoly
Section: Chapter Questions
Problem 14.1P
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A monopoly's cost function (C) is
where is output. Demand is
Determine the profit-maximizing price and output for the monopolist.
The profit-maximizing output level is
C = 0.2Q³ − 9.5Q² +380Q +150
p=590-2Q.
units of output. (Enter a numeric response using an integer.)
Transcribed Image Text:A monopoly's cost function (C) is where is output. Demand is Determine the profit-maximizing price and output for the monopolist. The profit-maximizing output level is C = 0.2Q³ − 9.5Q² +380Q +150 p=590-2Q. units of output. (Enter a numeric response using an integer.)
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