a quick question
I have to calculate P and Q for a monopolist.
The monopolist would maximise profits =P*Q-AC*Q
but we dont have AC
we only have P (as a function of Q) and MC (as a function of Q)
if it helps: beforehand, we calculated P, Q, PS and CS for the situation where the monopolist is regulated to behave competitive with P=MC
in other excersises, we could use the assumption MC=AC but because it is not explicitly mentioned here, i guess it doesnt hold
So how can calculate P, Q, CS, and PS here?
...we were on a break