Question

For a monopolist facing this demand curve, the profit-maximizing quantity is ______ and the profit-maximizing price is ______.

Answer 1

For a monopolist facing this demand curve, the profit-maximizing quantity is 50 and the profit-maximizing price is $2.

The curve is a payment card that aggregates multiple payment cards via a companion mobile app, allowing users to pay and withdraw from one card. You can 'change the bank card you paid with after each transaction is completed.

The curve allows you to change the card used for a particular purchase 30 days after purchase. This is useful if you accidentally use the wrong card or need to manage your credit limit.

In a simple closed curve, the shape is closed by lines or curves. Triangles, squares, circles, etc. are examples of closed curves. A curve that has the same start and end points and does not intersect is called a simple closed curve. A circle is a simple closed curve.

Learn more about curves here

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