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Economice - Finance

A monopolist faces the following demand and cost curves:
Qd = 200 - 10P
TC = 10 + 5Q

How many units will the monopolist produce if it's goal is to maximize profit?

What is the monopolist's total profit, given the units produced in the answer above?

Solution Preview

Revenue = Price * Quantity = P * (200 - 10P) = 200P - 10P^2

Cost = 10 + 5Q = 10 + 5(200 - 10P) = ...

Solution Summary

Neat, Step-by-Step solution is provided.

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