question archive Use the following information for a monopoly firm
Subject:MarketingPrice:2.88 Bought3
Use the following information for a monopoly firm. Assume that QQ equals the level of output and all costs are economic costs.
TR=250Q−0.5Q2MR=250−QTC=2,000+50Q+0.5Q2MC=50+QTR=250Q−0.5Q2MR=250−QTC=2,000+50Q+0.5Q2MC=50+Q
A. At the profit-maximizing or loss-minimizing output level, what is the economic profit?
B. Under these conditions, how much output should the firm produce?
C. At the output of 200 units, what will be the total costs?
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