posted by Drew on .
Qd=15.0-0.2P where Qd is annual quantity demanded in millions of units and P is the wholesale price. Incurred cost of $60 million. Production cost is $5/unit. (1) what is wholesale price, (2) production annually, (3) annual profit?
Given this is a monopoly with an expiring patent in 30 days, what price and quantity will result once the competition emerges in this market?