November 24, 2015

Homework Help: Economics

Posted by Carol on Friday, February 13, 2009 at 7:03pm.

A monopoly produces widgets at a marginal cost of $8 per unit and zero fixed costs. It faces an inverse demand function given by P = 38 - Q.
What are the profits of the monopoly in equilibrium?
A. $225
B. $120
C. $345
D. None of the statements associated with this question are correct

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