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BUS 640 Week 4 Problems
This file of BUS 640 Week 4 Market Structures and Pricing Decisions Applied Problems comprises:
Market Structures and Pricing Decisions Applied Problems. Please, complete the following 2 applied problems in a Word or Excel document. Show all your calculations and explain your results. Submit your assignment in the drop box by using the Assignment Submission button.
1. What is the profitmaximizing price and output level? Solve this algebraically for equilibrium P and Q and also plot the MC, D and MR curves and illustrate the equilibrium point.
Since the business has a patent over the item, it can act as a monopolist while determining its profit maximizing level of output and price.
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