A monopoly has the following demand, marginal revenue and marginal costs: Demand: P = 72-Q Marginal revenue: MR = 72 -2Q Constant marginal cost: MC = 12 a. how much output should the firm produce and sell to maximize its total revenues? b. the price at which the firm can sell the output that maximizes its total revenues? the firm's total profits from selling the quantity of output that maximizes its total revenues? C.

A monopoly has the following demand, marginal revenue and marginal costs: Demand: P = 72-Q Marginal revenue: MR = 72 -2Q Constant marginal cost: MC = 12 a. how much output should the firm produce and sell to maximize its total revenues? b. the price at which the firm can sell the output that maximizes its total revenues? the firm's total profits from selling the quantity of output that maximizes its total revenues? C.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter25: Monopoly

Section: Chapter Questions

Problem 14E

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