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Home / Questions / Suppose you are a monopolist in the market for a specific video game. Your demand curve is given by

Suppose you are a monopolist in the market for a specific video game. Your demand curve is given by

Suppose you are a monopolist in the market for a specific video game. Your demand curve is given by P=80-Q/2, and your marginal cost curve is MC=Q. Your fixed cost is $400.i) derive the marginal revenue curveii) calculate the equilibrium price and quantityiii) what is the profit?Suppose a cinema is a local monopoly whose demand curve for adult tickets on Saturnday night P=12-2Q, where P is the price of a ticket in dollars and Q is the number of ticket sold in hundreds. The marginal cost for adult is $2i) What is the marginal revenue cost in the market?ii) What price should the cinema charge in the markets if its goal is to maximize profits?

 

Apr 25 2020 View more View Less

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