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QUESTION
A monopolist faces the demand function P = 140 2 Q , with P denoting the market price and Q denoting the quantity demanded.
A monopolist faces the demand function P = 140 − 2Q, with P denoting the market price and Q denoting the quantity demanded. There is a fixed cost of 200, the total variable cost function is TVC =1/3 Q3 - 10Q2 + 188 Q
.
(a) Obtain an expression for the profit function f(Q), defined for Q > 0.
(b) Determine the derivative of the profit function.
