Suppose a monopolist is characterized as follows: P= 1200-5Q C = 8600 +28Q+Q² MC = 28 +2Q demand curve for the monopolist total cost function for the monopolist marginal cost function for the monopolist To maximize its profit, the monopolist should produce units of output. (Enter your response rounded to two decimal places.) The company's profit-maximizing price is $ (Enter your response rounded to two decimal places.) The monopolist's profit is $ (Enter your response rounded to two decimal places.) Suppose the government imposes a specific tax of $150 per unit on the monopolist. To maximize profit, the monopolist should now produce units of output. (Enter your response rounded to two decimal places.)

Suppose a monopolist is characterized as follows: P= 1200-5Q C = 8600 +28Q+Q² MC = 28 +2Q demand curve for the monopolist total cost function for the monopolist marginal cost function for the monopolist To maximize its profit, the monopolist should produce units of output. (Enter your response rounded to two decimal places.) The company's profit-maximizing price is $ (Enter your response rounded to two decimal places.) The monopolist's profit is $ (Enter your response rounded to two decimal places.) Suppose the government imposes a specific tax of $150 per unit on the monopolist. To maximize profit, the monopolist should now produce units of output. (Enter your response rounded to two decimal places.)

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter14: Monopoly

Section: Chapter Questions

Problem 14.5P

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