Question

A monopolist firm has the total cost function and the demand function :

C(x ) = ax2 + bx +c (a,b,c) >0

P(x) = β - αx (β, α >0 )

Show that the firm’s optimum level are equal when it fixes

a) Output

b) Price

Explain how a monopolist fixes a price on the basis of demand of the product.​

Answer 1

Answer:

(x) = β - αx (β, α >0 ) Show that the firm's optimum level are equal when it fixes a) Output b) Price Explain how a monopolist fixes a price on the basis of demand of the ...

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