Suppose a monopolist produces output where total revenue is maximized. At that output, the price elasticity of demand for the monopolist's output is equal to one.
What is Monopoly?
A monopoly is a market structure where one producer or seller holds a significant amount of influence within a certain market. Monopolies are forbidden in free-market economies as they limit customer alternatives and discourage competition. A company that enjoys monopoly status lacks replacements for its goods and faces little internal competition. Monopolies have the power to set prices and create barriers to entry for competing companies. Monopolies frequently benefit from economies of scale, the capacity to produce large volumes at reduced unit prices.
To know more about monopoly refer:
brainly.com/question/5992626
#SPJ4
For both accepting and rejecting, thank the employer for the wonderful opportunity that was given. When accepting state that you are happy with the employment terms, and the salary that was given. When rejecting tell the employer thank you, but simply state how there may have been better opportunities, or how the job was not the right fit for you. Both should be done either by email or phone.
At the least a channel of distribution firms consists of a producer and a customer. They are consumers when they use the products that have been produced, the products that have been produced, the products that have been produced.
Producer markets: To make a profit, producers purchase things and services, change them into marketable products, and then sell those products to customers. Farmers, factories, and construction firms are some examples of producers. A producer is in charge of discovering and starting a project, securing funding, employing writers, directors, and other important members of the creative team, and supervising every stage of pre-production, production, and post-production up to release.
To learn more about producer, click here.
brainly.com/question/14616889
#SPJ4
Answer:
a. What is the cost function.
C(x) = 10x + 60,000
b. What is the revenue function.
R(x) = 15x
c. What is the profit function.
P(x) = R(x) - C(x) = 15x - 10x - 60,000 = 5x - 60,000
Compute the profit loss corresponding to production level of 10,000 and 14000.
10,000 units produced:
P(10,000) = 5(10,000) - 60,000 = 50,000 - 60,000 = -$10,000
14,000 units produced:
P(14,000) = 5(14,000) - 60,000 = 70,000 - 60,000 = $10,000
