The Marvel Superhero franchise has just released its latest movie. As a monopolist for Marvel superhero films it faces the following inverse demanc function P=3300-Q Its cost curve is C(Q)=20+8Q. 1. Calculate Revenue, Marginal Revenue and the profit maximizing quantity? 2. What is the profit maximizing price? (Note: They won't charge you that much when you go to see the movie, even though they could. That's behavioral economics for you...)

ENGR.ECONOMIC ANALYSIS
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Question 15 Monopoly
The Marvel Superhero franchise has just released its latest movie. As a
monopolist for Marvel superhero films it faces the following inverse demand
function
P=3300-Q
Its cost curve is C(Q)=20+8Q.
1. Calculate Revenue, Marginal Revenue and the profit maximizing quantity?
IS
2. What is the profit maximizing price? (Note: They won't charge you that much
when you go to see the movie, even though they could. That's behavioral
economics for you...)
Transcribed Image Text:Question 15 Monopoly The Marvel Superhero franchise has just released its latest movie. As a monopolist for Marvel superhero films it faces the following inverse demand function P=3300-Q Its cost curve is C(Q)=20+8Q. 1. Calculate Revenue, Marginal Revenue and the profit maximizing quantity? IS 2. What is the profit maximizing price? (Note: They won't charge you that much when you go to see the movie, even though they could. That's behavioral economics for you...)
3. What is the firm's economic profit?
4. Bonus: If fixed costs increased from 20 to 100 how would your answers
change for parts 1, 2 and 3 above?
5. In the lecture videos we discussed the broadband internet monopoly that is
common in many parts of the US, including in Laramie.
BONUS: Name two consequences of this monopoly
Transcribed Image Text:3. What is the firm's economic profit? 4. Bonus: If fixed costs increased from 20 to 100 how would your answers change for parts 1, 2 and 3 above? 5. In the lecture videos we discussed the broadband internet monopoly that is common in many parts of the US, including in Laramie. BONUS: Name two consequences of this monopoly
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