A monopoly has the following demand function:

Q=2500-20P, where Q is qunatity of output sold per month and P is the price per unit.

A firm's short run cost function per month is:

STC=500+0.003Q

Based on the above information, your are required to calculate each of the following:

Marginal Revenue function

Marginal Cost function

Profit Maximizing price

Profit Maximizing outpu

Maximum profit

Q=2500-20P, where Q is qunatity of output sold per month and P is the price per unit.

A firm's short run cost function per month is:

STC=500+0.003Q

Based on the above information, your are required to calculate each of the following:

Marginal Revenue function

Marginal Cost function

Profit Maximizing price

Profit Maximizing outpu

Maximum profit