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Home / Questions / total revenue maximization A monopolist’s Demand and Total Cost Functions are: P= 1624 -4Q...

total revenue maximization A monopolist’s Demand and Total Cost Functions are: P= 1624 -4Q TC= 22,00

total revenue maximization

 

A monopolist’s Demand and Total Cost Functions are:

 

P= 1624 -4Q

 

TC= 22,000 + 24Q – 4Q(squared) + 1/3 Q(to the third power)

 

Where Q is output produced and sold

 

a At what level of output and sales (Q) and price (P) will
Total Profits be maximized?

 

b At what level of output and sales (Q) and price (P) will
Total Revenue be maximized?

 

c At what price (P) should the monopolist shut down?

 

 

Apr 25 2020 View more View Less

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