What is the quantity that maximizes profit

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A monopolist has demand and cost curves given by:

Q = 1000 - 2P

TC = 5,000 + 10*Q

Find average cost (AC), average variable cost (AVC), marginal cost (MC), marginal revenue (MR).

a. What is the quantity that maximizes profit? What is the revenue and profit at that point?

b. What is the quantity that maximizes revenue? What is the revenue and profit at that point?

 

Reference no: EM13154373

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