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You learn that the demand curve facing a monopolist can be written as
P = 100 - 5Q, and the monopolist's marginal costs are constant at MC = 60. There are no fixed costs. Write down the equation of the marginal revenue curve for this monopolist. Graph the demand, MR, and MC curves, using a vertical scale of 10 per grid. What quantity will be produced to maximize profits? At what price will the monopolist sell? Do the quantity and price that you found satisfy the market demand curve.

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M9492593

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