Microecnomics
posted by John .
A firm is a monopolist in the production of a fuel sensor system. It faces monthly market demand that varies according to the equatioin Q=3100.25P, where P is the price per system in dollars. The firm earns Marginal revenue accordind to the equation MR=12408Q & incurs marginal costs according to the function MC=140+2Q, where Q is the quantity of these systems produced.
A. How many of these Systems will the firm produce per month to Maximize profit? What price will the firm charge per system?

Always always always. Maximize where MC=MR. You are given both equations. Use algebra and solve for Q. Plug this optimal Q into the demand equation to get P.
Respond to this Question
Similar Questions

Economics
50. In both monopolistic competition and nonpricediscriminating monopoly, isn't the marginal revenue curve lies below the demand curve? 
economics
suppose a competitive market consists of identical firms with a constant long run marginal cost of $10. Suppose the demand curve is given by q=1000p a)What are the price and quantity consumed in the long run competitive equilibrium? 
Economics
Yeah, so I'm in urgent need of help with this homework. 1. Assume that in a perfectly competitive market, a firm's costs and revenue are: Marginal cost = average variable cost at $20 Marginal cost = average total cost at $30 Marginal … 
econ
1. Consider a pure monopolist with shortrun total cost function given by STC = 1000 +200 Q + 12.5 Q2. Suppose also that this firm faces an inverse market demand function given by P = 800 – 20 Q. a. How much should this firm produce … 
economics
5. A market contains a group of identical pricetaking firms. Each firm has a marginal cost curve MC(Q) = 2Q, where Q is the annual output of each firm. A study reveals that each firm will produce if the price exceeds $20 per unit … 
Economics
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. Suppose fixed costs rise to $200. What will happen in the market? 
econ
P=15Q/1000. Suppose there are two firms in this market. Compute equilibrium quantities and profits for each firm, and the equilibrium market price. Hint: Start with thinking about the number of loaves a firm will sell in a month — … 
Econ
If a pure monopolist can price discriminate by separating buyers into two or more groups: A.the marginal revenue curve and the total revenue curve will now coincide. B.the marginal revenue curve will now shift to a position above the … 
Econ
Please help me and review my answers for my quiz. Let me know which ones you believe to be right and wrong. 1. When P = AR = MR = AC = MC: X economic profits are positive. economic profits are zero. economic profits are negative. normal … 
MATHS
A company is a monopolist. The demand function for its product is as follows: Q = 60 – 0.4P + 6Y + 2A Where Q = quantity sold in units P = Price per unit Y = per capita disposal income (thousands of dollars) A = hundreds of dollars …