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    Calculating optmal output and other related parameters

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    Assume a monopolist with the following:

    Qd =100-10p

    TC = 1 + 2Q

    Find the following:
    a) Price at profit maximizing output
    b) Profit maximizing output
    c) Total Revenue at profit maximizing output
    d) Total Cost at profit maximizing output

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    Solution Preview

    a)Price at profit maximizing output

    Qd = 100 - 10p

    Total Revenue=P*Qd=(10-0.1Qd)*Qd=10Qd-0.1Qd^2
    Marginal ...

    Solution Summary

    Solution calculates optimal output, price, total cost, total revenue and maximum profit.