Business, 10.12.2019 00:31 mommasgonzales01
Suppose market demand for a product is given by the equation p = 20 – q. for this market demand curve, marginal revenue is mr = 20 – 2q.
1 if the marginal cost of producing this good is 0, what quantity would a profit-maximizing monopolist produce?
2 if the marginal cost of producing this good is 4, what quantity would a profit-maximizing monopolist produce?
3 if the marginal cost of producing this good is 0, what price would a profit-maximizing monopolist charge for the product?
4 if the marginal cost of producing this good is 4, what price would a profit-maximizing monopolist charge for the product?
5 if the marginal cost of producing this good is 0, how much total consumer surplus would consumers receive in this market?
6 if the marginal cost of producing this good is 4, how much total consumer surplus would consumers receive in this market?
Answers: 3
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Suppose market demand for a product is given by the equation p = 20 – q. for this market demand curv...
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