A monopolist faces the following demand curve and cost function
P= 50-0.5Q TC=2Q+1000
Find the follwing equations
Marginal cost:
Marginal Revenue:
Average total cost:
Graph the following on the same graph
A monopolist faces the following demand curve and cost function
P= 50-0.5Q TC=2Q+1000
Find the follwing equations
Marginal cost:
Marginal Revenue:
Average total cost:
Graph the following on the same graph
Marginal cost - Wikipedia, the free encyclopedia
Therefore, MC = DTC/DQ = 2
Marginal Revenue works in a similar fashion, shown here:
Marginal revenue - Wikipedia, the free encyclopedia
Does that get you started?