The demand function for a monopoly is given by p= 100+17q-3q² The cost function is p=50q-8q²+q³+10 where q=0, find the output

the output depends on the input, which you have not specified.

revenue = demand * price
profit = revenue - cost

Did you know?

Did you know that in economics, the demand function for a monopoly represents the relationship between the price of a good or service and the quantity that customers are willing to purchase? In this case, the demand function is p= 100+17q-3q², where "p" denotes the price and "q" stands for the quantity demanded. Similarly, the cost function in economics illustrates the relationship between the quantity produced and the total cost incurred by the firm. In this scenario, the cost function is given as p=50q-8q²+q³+10, where "p" represents the cost and "q" signifies the quantity produced. If "q" equals zero in these equations, it implies a complete absence of output from the monopoly. Substituting q=0 into the demand function and the cost function, we can find out the corresponding price and cost of the good or service when no output is produced. This can be useful in evaluating the potential profitability or feasibility of a monopoly in different scenarios.