(Answered) Single-price monopolist with marginal cost

Management Studies

Problem: Consider a market which is served by a single-price monopolist with marginal cost given by MC = 2Q. The market demand is given by P = $800 - 3Q. Calculate the following: the firm's marginal revenue function, its profit-maximizing quantity, and its profit-maximizing price. Suppose this firm decided to sell the perfectly competitive quantity at the perfectly competitive price. Calculate these two figures. Explain your answer and provide examples.

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