# Find the quantity and price that maximize the monopoly profit

*label*Economics

*timer*Asked: Mar 21st, 2014

**Question description**

If the demand function faced by the monopolist is given by Q=150 – 1.5P and his cost function is given by C = 150 + 120Q. Find the quantity and price that maximize the monopoly profit hence find the maximum profit.

(b) It is assumed that the output product by firm is function of capital (K) and labour (L). Given the cob-Douglas production function below,

Q = 16*K*^{12}*L*^{14}

Find;

i.
Marginal
physical product of labour (MPP_{L})

ii.
Marginal Physical Product of capital (MPP_{K})