a.
Marginal cost(MC) =2
Market demand, p=22-qx
Entry fee = $48
In the monopolistic market, the operating profit is total revenue (TR) – total cost (TC)
TR= p.Q = (22-qx). Q
TC = Fixed cost + variable cost Read More
a.
Marginal cost(MC) =2
Market demand, p=22-qx
Entry fee = $48
In the monopolistic market, the operating profit is total revenue (TR) – total cost (TC)
TR= p.Q = (22-qx). Q
TC = Fixed cost + variable cost Read More