A monopolist faces the demand curve Q = 120 - P/3. The cost function is C = Q³
. Find the
output that maximises this monopolist’s profits. What are the prices at profits and that output?
Find the elasticity of demand at the profit maximising output.
Answers
Answer:
I've missed your calls for months it seems
Don't realise how mean I can be
'Cause I can sometimes treat the people
That I love like jewelry
'Cause I can change my mind each day
I didn't mean to try you on
But I still know your birthday
And your mother's favorite song
… So I'm sorry to my unknown lover
Sorry that I can't believe
That anybody ever really
Starts to fall in love with me
Sorry to my unknown lover
Sorry I could be so blind
Didn't mean to leave you
And all of the things that we had behind
Ooh
Ooh
Ooh
… I run away when things are good
And never really understood
The way you laid your eyes on me
In ways that no one ever could
And so it seems I broke your heart
My ignorance has struck again
I failed to see it from the start
And tore you open 'til the end
… And I'm sorry to my unknown lover
Sorry that I can't believe
That anybody ever really
Starts to fall in love with me
Sorry to my unknown lover
Sorry I could be so blind
Didn't mean to leave you
And all of the things that we had behind
… And someone will love you
Someone will love you
Someone will love you
But someone isn't me
Someone will love you
Someone will love you
Someone will love you
But someone isn't me
… Sorry to my unknown lover
Sorry that I can't believe
That anybody ever really
Starts to fall in love with me
Sorry to my unknown lover
Sorry I could be so blind
Didn't mean to leave you
And all of the things that we had behind
… And someone will love you
Someone will love you
Someone will love you
But someone isn't me
And someone will love you
Someone will love you
Someone will love you
But someone isn't me