Explore BrainMass

Explore BrainMass


    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    A monopoly market is characterized by the following Market Demand and Market Total Cost.

    Demand: QD = 20.25 â?" 0.5 * P

    Total Cost: TC = 242 + 35*QS â?" 9*QS2 + 0.5*QS3

    Determine the equilibrium price and quantity that will obtain in the long run.

    © BrainMass Inc. brainmass.com October 10, 2019, 1:24 am ad1c9bdddf

    Solution Preview

    since it is a monopoly market, this means that there is only 1 supplier.

    from the previous two questions, we know ...

    Solution Summary