What quantity will be produced to maximize profits

Reference no: EM13232897

You learn that the demand curve facing a monopolist can be written as P = 100 - 5Q, and the monopolist's marginal costs are constant at MC = 60. There are no fixed costs. Write down the equation of the marginal revenue curve for this monopolist. Graph the demand, MR, and MC curves, using a vertical scale of 10 per grid. What quantity will be produced to maximize profits? At what price will the monopolist sell?

Reference no: EM13232897

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