The market demand function for a product sold by a monopolist is given below:
$$Q D = 120 - 4 P$$ The monopolist's marginal cost function is given below:
$$M C = 1.5 Q$$ Calculate the equilibrium price and quantity.

Question

The market demand function for a product sold by a monopolist is given below:
 $$Q D = 120 - 4 P$$ The monopolist's marginal cost function is given below:
 $$M C = 1.5 Q$$ Calculate the equilibrium price and quantity.

Quizplus · Accepted Answer

The Answer of The market demand function for a product sold by a monopolist is given below:
 $$Q D = 120 - 4 P$$ The monopolist's marginal cost function is given below:
 $$M C = 1.5 Q$$ Calculate the equilibrium price and quantity.

The Market Demand Function for a Product Sold by a Monopolist