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Arlecino [84]
3 years ago
9

One difference between total utility and marginal utility is that

Business
1 answer:
Margaret [11]3 years ago
6 0
Marginal utility is the additional satisfaction received from consuming one more unit of a product.Totalutility is the overall or total satisfaction received from consuming some particular amount of the product.<span>Total utility can be determined by summing the marginal utility for each unit of a product that is consumed</span>
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A monopoly market is characterized by the inverse demand curve P = 1,200 – 40 Q and a constant marginal cost of $200. If the mar
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Answer:

The profit maximizing output level declines by 2.5 units and the price rises by $100.

Explanation:

In a monopoly market the inverse demand curve is given as,

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MR = MC

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80Q = 800

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P = 1,200 - 40\times 10

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3 years ago
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