{"id":106348,"date":"2022-01-26T08:56:30","date_gmt":"2022-01-26T08:56:30","guid":{"rendered":"https:\/\/essayparlour.com\/paperhelp\/?p=106348"},"modified":"2022-01-26T08:56:30","modified_gmt":"2022-01-26T08:56:30","slug":"suppose-that-the-demand-for-bentonite-is-given-by-q","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/paperhelp\/business-economics-2\/suppose-that-the-demand-for-bentonite-is-given-by-q\/","title":{"rendered":"Suppose that the demand for bentonite is given by Q"},"content":{"rendered":"<table style = 'table-striped table-bordered table-hover' responsive='true'>\n<tr>\n<th>Question<\/th>\n<\/tr>\n<tr>\n<td>Suppose that the demand for bentonite is given by Q = 40 &#8211; 0.5P, where Q is in tons of bentonite per day and P is the price per ton. Bentonite is produced by a monopolist at a constant marginal and average total cost of $10 per ton.<br \/>\n a. Derive the inverse demand and marginal revenue curves faced by the monopolist.<br \/>\n b. Equate marginal cost and marginal revenue to determine the profit-maximizing level of output.<br \/>\n c. Find the profit-maximizing price by plugging the ideal quantity back into the demand curve.<br \/>\n d. How would your answer change if marginal cost were instead given by MC = 20 + Q?<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Question<\/p>\n<p>\nSuppose that the demand for bentonite is given by Q = 40 &#8211; 0.5P, where Q is in tons of bentonite per day and P is the price per ton. Bentonite is produced by a monopolist at a constant marginal <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-106348","post","type-post","status-publish","format-standard","hentry","category-business-economics-2"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/comments?post=106348"}],"version-history":[{"count":1,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106348\/revisions"}],"predecessor-version":[{"id":106349,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106348\/revisions\/106349"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/media?parent=106348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/categories?post=106348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/tags?post=106348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}