+1-415-670-9189
info@expertsmind.com
Calculate the profit-maximizing price
Course:- Microeconomics
Reference No.:- EM13700120





Assignment Help >> Microeconomics

A pharmaceutical firm has a monopoly on a new class of vasodilator. The market demand is given by P=240-0.01*Q, and thus MR=240-0.02*Q. The monopolist's marginal cost is constant and equal to 20. Calculate the profit-maximizing price.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Microeconomics) Materials
Union membership reached its peak: The generally pro-labor stance that had prevailed in legislation during the Great Depression was reversed by the: Under the Taft-Hartley Act
Given that you are an economist speaking to a convention on international trade, in your speech, what insights about international trade came from Adam Smith and David Ricar
Find the equilibrium price and quantity traded and illustrate the equilibrium on a diagram (assuming there are no taxes or subsidies, and the notation is the same as that in
The situation in which people change their behavior after they get insurance (illustrated by the above scenario) because the change benefits them but increases costs to the
The forecasted demand for fudge for the next four months is 140, 160, 90, and 70 pounds. What is the recommended production rate if the level strategy is adopted with no bac
Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts. In a paragraph, what are the efficiency and equit
According to an article in Business Week Online, the company is not only the world's largest shipbuilder but also manufactures other industrial goods ranging from constructi
What"s wrong with this way of thinking? “Economists argue that lower prices will result in fewer units being supplied. However, there are exceptions to this rule. For example,