# Monopolist demand

### Question Description:

Monopolist demand 1 answer below » A

monopolist’s demand function is given by P = 80 – 3Q (with MR =

80 – 6Q). Its total cost function is TC = 20Q +

200 (with MC =

20). (i)

Using

algebra determine the profit maximizing output, price and optimal profit for

the firm. (ii) Suppose that instead of maximizing profit, the firm wants to

maximize total revenue. Using algebra

determine the optimal output, price, profit and revenue for the firm. Nov 17 2013 08:09 PM