Jingxi L. answered 12/24/23
Yale Ph.d, college professor, experienced economics tutor
The inverse demand function is: P = 600 - 3 Q
The marginal revenue function is : MR = 600 - 6Q
The marginal cost function MC = 6
set MC= MR solve for Q = 99
Kate P.
asked 11/04/23A monopolist faces a cost function equal to
C(Q) = 6Q
and a demand function of
QD(P) = 200 - P/3
what is the monopolist's marginal revenue function?
what is the monopolist's chosen quantity to sell?
Jingxi L. answered 12/24/23
Yale Ph.d, college professor, experienced economics tutor
The inverse demand function is: P = 600 - 3 Q
The marginal revenue function is : MR = 600 - 6Q
The marginal cost function MC = 6
set MC= MR solve for Q = 99
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