(Answered) Consider a monopoly producing a good with the following

Economics

Consider a monopoly producing a good with the following inverse demand curve:

P (q) = 20 - 2q

Assume that marginal cost is

MC = 4 + 4q

(i) What is the optimal quantity for the monopolist? What is the corre-sponding price?

(ii) What is the socially optimal quantity?

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