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    The market demand curve is QD= 50 - P. The marginal cost curve is MC = 4Q + 6.

    a. Assuming the marginal cost curve is for a competitive industry as a whole, find the profit-maximizing level of output and price.

    b. Assuming the marginal cost curve is for only one firm which comprises the entire market, find the profit-maximizing level of output and price.

    c. Compare the two results.

    Please help thanks.

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    https://brainmass.com/economics/output-and-costs/market-demand-curve-172730

    Solution Preview

    The market demand curve is QD = 50 - P. The marginal cost curve is MC = 4Q + 6.

    a. Assuming the marginal cost curve is for a competitive industry as a whole, find the profit-maximizing level of output and price.
    QD = 50 - P P = 50 - Q
    Total ...

    Solution Summary

    The market demand curve is assessed.

    $2.49

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