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  3. 4 30 points assume a forprofit hospital is a monopolist...

Question: 4 30 points assume a forprofit hospital is a monopolist...

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4. (30 points) Assume a for-profit hospital is a monopolist with a demand function given by P = 404-2x, where p is price of 300+4z+48, hospital care and x is the quantity of hospital care. The hospitals total cost is given by the cost function C where C is total cost. Compute: (a) (5 points) marginal cost (b) (5 points) average cost c) (5 points) hospitals profit maximizing output (d) (5 points) price e) (5 points) revenue, and f) (5 points) profit

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