Production-price and profits for monopolist

Reference no: EM1314935

A monopolist faces the following demand curve: P=120-0.02Q, where Q is production and P is price measured in cents per unit. The firm's cost function is given by C=60Q+25,000.

a) What is the level of production, price and total profits per week?

b) If the government decides to levy a tax of 14 cents per unit on the product, what would be the level of production, price, and profit?

Reference no: EM1314935

Questions Cloud

What is the magnitude and acceleration of the train : You swing a 2.60 kg stone in a circle, using the full length of a thin 60.0 cm rope. At what speed must you swing it so its acceleration will be 9.8 m/s^2.

Ecology and evolution : Explain the three kinds of the mammals based upon how their young grows.Explain briefly the functions of sensory neurons, inter-neurons, and motor neurons in nervous system.

Illustrate what kind of equality : Can you provide any examples of Illustrate what kind of equality could be made to offset these increased society costs

Performing a chi-square test : Perform a chi-square test on the following data:

Production-price and profits for monopolist : A monopolist encounters the following demand curve: P=120-0.02Q-What is the level of production, price and total profits per week?

Contribution income statement up to operating income : Contribution Income Statement up to operating income - Straightforward Contribution Income Statement

What is the recoil speed of the rifle : A 30-06 caliber hunting rifle fires a bullet of mass 0.0122 kg with a velocity of 247 m/s to the right. The rifle has a mass of 3.2 kg. What is the recoil speed of the rifle as bullet leaves the rifle.

Zero profit consumers will be worse off : the monopoly will experience a loss the monopoly will earn a profit the monopoly will earn zero profit consumers will be worse off than they would be if the firm's profit maximization activities were unregulated

Income statement preparation using contribution : Income statement preparation using contribution and Absorption Costing - Prepare two income statements, one using the contribution approach and one using the absorption approach.

User Account

All Pages