The market inverse demand curve for thrust bearings is P = 15 - 1.5Q, where Q is measured in hundreds of bearings per day and P is the price per bearing. The marginal cost is $3. Suppose two firms, which are Bertrand competitors, produce identical thrust bearings for this market. If this market were monopolized, the market quantity would be ____.

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In a monopolized market, the firm would set marginal revenue (MR) equal to marginal cost (MC) to maximize profit. The inverse demand curve is P = 15 - 1.5Q. To find MR, we first find the total revenue (TR) by multiplying P by Q, which gives TR = 15Q - 1.5Q^2. The marginal revenue (MR) is the derivative of TR with respect to Q, which is MR = 15 - 3Q. Setting MR equal to the marginal cost of $3, we get 15 - 3Q = 3. Solving for Q gives Q = 4, or 400 when considering the units are in hundreds of bearings.

The Market Inverse Demand Curve for Thrust Bearings Is P