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Maximum and not a minimum

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Reference no: EM131073532

Topic Production & Cost - ECONOMICS (MBA)

A monopoly firm is faced with the following market conditions:

Demand: P = 100 - Q

Total Cost: TC = 100 + 20Q

1) Derive the monopoly profit maximisation price (P) and quantity (Q)

2) Determine the maximisation amount of profit that the firm could obtain. Verify that it is a maximum and not a minimum.

Reference no: EM131073532

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