Consider a single price monopoly that faces a market demand curve for a good is given by the equation 𝑃=100−.1𝑄 and the total cost function is given as 𝑇𝐶=1000+20𝑄+.4𝑄2.
a. What is the total fixed cost for this monopoly?
P=TC
100-.1Q = 1000+20Q+.4Q2
1000-100=.1Q+20Q+.4Q2
900= 20.1Q+.4Q2
900=4Q(5.025 + Q)
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