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A monopoly has a demand curve of D(p)=150-3P. If marginal cost is equal to 2, what is the
profit maximizing quantity?
Solution
Q=150-3P i.e. the quantity demanded equation.
The inverse demand function will be P = 50-Q/3
TR = PQ = 50Q - Q2/3
MR = 50 - 2Q/3
MC = 2
MR = MC
50 - 2Q/3=2
2Q/3 = 48
Q = 72 is the profit maximizing quantity.

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A monopoly has a demand curve of D(p)=150-3P. If marginal cost is eq.pdf

  • 1. A monopoly has a demand curve of D(p)=150-3P. If marginal cost is equal to 2, what is the profit maximizing quantity? Solution Q=150-3P i.e. the quantity demanded equation. The inverse demand function will be P = 50-Q/3 TR = PQ = 50Q - Q2/3 MR = 50 - 2Q/3 MC = 2 MR = MC 50 - 2Q/3=2 2Q/3 = 48 Q = 72 is the profit maximizing quantity.