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Calculate the monopolist profits

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Reference no: EM131183279

Consider a monopoly with inverse demand function p = 24 - y and costfunction c(y) = 5y2 + 4:

i) Find the profit maximizing output and price, and calculate the monopolist's profits.

ii) Now considerthe case in which the monopolist has now another plant with the cost structure c 2(y2) = 10y2.

How much will the monopolist produce in each plant, what is the price, and the total profits of the monopoly?

iii) Now suppose there is a technological change in the first plant and it has the following costfunction: c 1 (y1)= 2y1. How much will the  monopolist produce in each plant and what is the price?

Reference no: EM131183279

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