Hodor, Inc. is a monopolist in the doorstop industry. Its cost is TC 100-5q + q, МС — 2q-5, АТС — 100q-5 +qand the inverse demand function is is p = 55-q. What maximum profit the company can get in the long run? Make sure to answer in the form of $dollar amount, e.g. $125. Enter your answer here

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter24: Price-searcher Markets With High Entry Barriers
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Hodor, Inc. is a monopolist in the doorstop industry. Its cost is
TC = 100–5q + q², MC = 2q-5, ATC = 100q–5 + q and the inverse demand
function is is p= 55-q. What maximum profit the company can get in the long run? Make sure
to answer in the form of $dollar amount, e.g. $125.
Enter your answer here
Transcribed Image Text:Hodor, Inc. is a monopolist in the doorstop industry. Its cost is TC = 100–5q + q², MC = 2q-5, ATC = 100q–5 + q and the inverse demand function is is p= 55-q. What maximum profit the company can get in the long run? Make sure to answer in the form of $dollar amount, e.g. $125. Enter your answer here
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