Answer to Question #99854 in Microeconomics for Tsige

Question

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.

Answer 1

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