For a monopolist's product, the cost function is c=0.006q+40q+8000 and the demand function is p=450-4q. Find the profit-maximizing output. The profit-maximizing output is [ (Round to the nearest whole number as needed.)
For a monopolist's product, the cost function is c=0.006q+40q+8000 and the demand function is p=450-4q. Find the profit-maximizing output. The profit-maximizing output is [ (Round to the nearest whole number as needed.)
Chapter8: Monopoly
Section: Chapter Questions
Problem 10SQ
Question
clear step by step explain i will 5 upvotes . don't use chagpt answer.
Transcribed Image Text:For a monopolist's product, the cost function is c=0.006q+40q+8000 and the demand function is p=450-4q. Find the profit-maximizing output.
The profit-maximizing output is [
(Round to the nearest whole number as needed.)
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