Answer to Question #99854 in Microeconomics for Tsige

Question #99854

Suppose that a monopolist produces an identical product and faces the following inverse demand function :

P= 40- Qt

Where At = Q1+Q2+Q3 and out put from the three plants produced. At the cost of

C1= Q1+Q1^2

C2= 3Q2

C3= 2Q3^2-Q3

a, Construct the profit function

b, Determine the profit maximizing levels of out put and Check sufficient order condition.


1
Expert's answer
2019-12-02T23:14:39-0500
Dear Tsige, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

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