Find the quantity and price that maximize the monopoly profit

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 = 16K12L14


i.                     Marginal physical product of labour (MPPL)                                               

ii.                   Marginal Physical Product of capital (MPPK)                                               


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