Eyeglasslux is a single-price monopolist in the eye-glass frame market. It faces a Market demand given by Q=421-2P. Its Total Cost function is TC=5,844+23Q and Marginal Cost is MC=23. If the government imposes a price ceiling of $35, what is the monopolist's PROFITS in the SHORT-run? Enter a number only, drop the $ sign.
Eyeglasslux is a single-price monopolist in the eye-glass frame market. It faces a Market demand given by Q=421-2P. Its Total Cost function is TC=5,844+23Q and Marginal Cost is MC=23. If the government imposes a price ceiling of $35, what is the monopolist's PROFITS in the SHORT-run? Enter a number only, drop the $ sign.
Chapter9: Monopoly
Section: Chapter Questions
Problem 5SQ
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Eyeglasslux is a single-price monopolist in the eye-glass frame market. It faces a Market demand given by Q=421-2P. Its Total Cost function is TC=5,844+23Q and Marginal Cost is MC=23.
If the government imposes a
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