profit maximising monoloys
can anyone help?
A monopoly firm has a total revenue function:
and a total cost function:
where R, C and Q are total revenue, total cost and quantity respectively.
i. The monopolist’s profit maximising output and price.
ii. The value of total profit at the profit maximising price and output.
iii. The co-efficient of price elasticity at the profit maximising price and output.
iv. How will your calculations in i. and ii. above be affected by a lump sum tax of 30?