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Socially Optimal Price and Quantity?
In microeconomics how do you find socially optimal price and quanity of a monopoly?
when you have to monopoly profit and profit maximizing price and quantity for monopolistic firm.
4 Answers
- 10 years agoFavorite Answer
The socially optimal price or aka allocation efficiency occurs where MC = AR ; where Supply = Demand.
The profit maximizing price is where MC = MR.
Remember when you are lining up the prices that you must go up from the point where MC = MR, until the dotted line you are drawing touches the AR line and then move across to find the profit maximizing price.
- Anonymous6 years ago
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Socially Optimal Price and Quantity?
In microeconomics how do you find socially optimal price and quanity of a monopoly?
when you have to monopoly profit and profit maximizing price and quantity for monopolistic firm.
Source(s): socially optimal price quantity: https://biturl.im/nhDnC - Anonymous5 years ago
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A. the price will be over $13. B. PQ=TR=13Q-0.0005Q*2 MR=dTR/dQ=13-0.001Q MR=MC=8=13-0.001Q Q=5/0.001=$5,000 P=13-2.5=10.5 C. nothing.It's P=MC=MR already.
