Answer to Question #128166 in Microeconomics for Carol

Question

Qd=1500-25P

And Marginal revenue curve by

MR= 20-Q/25

Calculate the perfectly competitive and monopoly outputs and prices

Answer 1

The perfectly competitive profit-maximizing output is produced when D = MC, and monopoly profit-maximizing output is produced when MR = MC.

But we need to know the exact data of TC and MC to calculate the profit-maximizing output and prices.