A monopolist’s inverse demand function is estimated as = 650 − 2 . The company produces output at two facilities; the marginal cost of producing
A monopolist’s inverse demand function is estimated as = 650 − 2 . The company produces output at two facilities; the marginal cost of producing at facility 1 is ( ) = 3 , and the marginal cost of producing at facility 2 is ( ) = 4 . a. Provide the equation for the monopolist’s marginal revenue function. ( Recall that + = .) ( ) = − − b. Determine the profit-maximizing level of output for each facility. Round your response to two decimal places. Output for facility 1: Output for facility 2: c. Determine the profit-maximizing price. Round your response to the nearest penny (two decimal places). $
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