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Suppose that the costs for a monopolist are given by C(Q) = 11 4 Q2+Q+476.68. Further suppose that the inverse demand function is given by P = 1 4 determine: (Q-28)2. Using calculus (a) Determine the profit maximizing quantity and price. (b) How much profit does the monopolist earn? (c) What is the social welfare maximizing quantity? ) (d) What is the magnitude of deadweight loss caused by the monopolist? (

Microeconomics, Economics

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