part C Di need in words not handwritten or pic......... 3.1 In a stadium there is only one seller of bratwursts (sausages). The inverse demandfunction is given by: P(Q) = 10 - Q. The total costs of the seller are TC(Q)=2Q.15000a) Calculate the revenue function, the marginal revenue function, and the marginal costfunction.b) What is the monopolist's profit-maximizing quantity?c.) What is the monopolist's profit-maximizing price?d.) What is the monopolist's profit?

Monopoly market is characterized by presence of single firm. Single firm is considered as price…

In a stadium there is only one seller of bratwursts (sausages). The inverse demand tion is given by: P(Q) = 10 - Q. The total costs of the seller are TC(Q)=2Q. 1 5000 alculate the revenue function, the marginal revenue function, and the marginal cost tion.

In a stadium there is only one seller of bratwursts (sausages). The inverse demand tion is given by: P(Q) = 10 - Q. The total costs of the seller are TC(Q)=2Q. 1 5000 alculate the revenue function, the marginal revenue function, and the marginal cost tion.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter9: Monopoly

Section: Chapter Questions

Problem 11SQ

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Question

part C D

i need in words

not handwritten or pic.........

3.1 In a stadium there is only one seller of bratwursts (sausages). The inverse demand
function is given by: P(Q) = 10 - Q. The total costs of the seller are TC(Q)=2Q.
1
5000
a) Calculate the revenue function, the marginal revenue function, and the marginal cost
function.
b) What is the monopolist's profit-maximizing quantity?
c.) What is the monopolist's profit-maximizing price?
d.) What is the monopolist's profit?

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