Microeconomics

McCullough has a monopoly on rental dwellings in the local community.

McCullough has a monopoly on rental dwellings in the local community. The demand for rental dwellings is QD = 70,000 – 50P  P = 1,400 – 0.02 QD. The resulting marginal revenue function is MR(Q) = 1,400 – 0.04 QD. McCullough’s marginal cost of providing rental dwellings is MC(Q) = 0.01Q + 20. Suppose […]

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Date: September 9th, 2020