The demand curve faced by a monopolist is: P = 120 - 3Q. The marginal cost curves in factory 1 and factory 2 are respectively as follows: MC1 = 10 + 20Q₁ MC₂ = 60 +5Q₂ What is the equilibrium price? Answer Choices: a. 99. b. 100. c. 101. d. 102.

The demand curve faced by a monopolist is: P = 120 - 3Q. The marginal cost curves in factory 1 and factory 2 are respectively as follows: MC1 = 10 + 20Q₁ MC₂ = 60 +5Q₂ What is the equilibrium price? Answer Choices: a. 99. b. 100. c. 101. d. 102.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Monopoly

Section: Chapter Questions

Problem 8SQP

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Question

The demand curve faced by a monopolist is: P = 120 – 3Q. The marginal cost curves in factory 1 and factory
2 are respectively as follows:
MC₁ = 10 + 20Q₁
MC₂ = 60 + 5Q₂
What is the equilibrium price?
Answer Choices:
a. 99.
b. 100.
c. 101.
d. 102.

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