If there are 23 students in your class, and your teacher is pulling random names from a hat, what is the probability that your n
2 answers:
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Answer:
The equations have the same slope but different y-intercepts. This means the lines are parallel and there is no solution (since they do not intersect).
Answer:
Quantity = 59 units
Price = $111
Step-by-step explanation:
The Demand function is given by
The Marginal cost is given by
We are asked to find the quantity and price of goods.
Firstly, obtain the Marginal revenue function from the demand function
The Total revenue is given by
The Marginal revenue is the derivative of the Total revenue,
Assuming that the monopolist maximizes profits,
Therefore, the quantity is 59 units.
The price of each good is
Therefore, the price is $111.