Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Chapter 9, Problem 6SCQ

Imagine a monopolist could charge a different price to every customer based on how much he or she were willing to pay. How would this affect monopoly profits?

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Imagine a monopolist could charge a different price to every customer based on how much he or she were willing to pay. How would this affect monopoly profits?
A product may be provided by a monopolist, but the market may be contestable. How can it be that a monopoly can be as efficient as a perfectly competitive market?
Suppose you are the owner of a firm that is an unregulated monopoly. You find that your marginal cost curve is: MC = 40 + 3Q where MC is dollar marginal cost and Q is output. Suppose also that the demand curve for your product is  P = 100 - Q where P is product price and Q is output. If you want to maximize profit, what Q should you choose? Please show work.

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Principles of Economics 2e

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