00:01
So here we have a monopoly.
00:02
And in this monopoly, we are given a total cost curve that is 100 plus 10q plus 2q squared.
00:11
So immediately i want to get the marginal cost, which is the derivative of total cost with respect to quantity.
00:18
And that's going to be 10 plus 4q.
00:22
That's the definition of marginal cost.
00:23
We also have a demand curve.
00:25
P is equal to 90 minus 2q.
00:28
So here i want to get a revenue function, right? and revenue, which is just r, is price times quantity.
00:38
So revenue is 90 minus 2q times q, right? that's the definition of revenue.
00:45
Marginal revenue is the derivative of revenue with respect to quantity, and that'll be 90 minus 4q.
00:54
So if i was to graph this, right, in terms of quantity, and price...