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    price and quantity supplied

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    Problem:

    Given 3 equations:

    MR = 500 - 10Q
    TR = 2000Q - (20Q)(20Q) didn't know how to put in squared
    MC = 200 + 10Q

    Calculate the following:

    A. The price and quantity supplied for the monopolist
    B. The price and quantity supplied for the perfect competitor.

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    https://brainmass.com/economics/perfect-competition/price-quantity-supplied-40662

    Solution Preview

    a) The decision rule for monopoly is find the quantity where MC=MR and then look for the price at that point.
    MR=500-10Q
    MC=200+10Q
    Equating both we get Q=15

    Now TR=P*Q, so ...

    Solution Summary

    The decision rule for monopoly is utilized.

    $2.19