A monopolist has a marginal revenue curve given by MR = 102 - Q, and a total cost curve given by TC = Q2 + 16. The monopolist's profit maximizing price and quantity are _______, _____ respectively.
A) 85; 34
B) 52; 50
C) 100; 2
D) 77; 50
Correct Answer:
Verified
Q7: A profit maximizing monopolist sets output where
A)MC
Q8: The total revenue curve for a firm
Q9: If a profit maximizing monopolist faces a
Q10: If a profit maximizing monopolist sells output
Q11: Which of the following would erode the
Q13: If a profit maximizing monopolist faces a
Q14: A natural monopoly always has
A)a downward sloping
Q15: Monopoly is characterized by
A)many close substitutes.
B)no barriers
Q16: Which of the following is not a
Q17: If a firm could perfectly price discriminate,
A)the
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