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QUESTION
You are the manager of a monopoly that faces an inverse demand that is described by p=180 – 10q. your costs are tc = 5 + 20q and marginal cost is mc=20. the profit-maximizing output for your firm is
You are the manager of a monopoly that faces an inverse demand that is described by p=180 – 10q. your costs are tc = 5 + 20q and marginal cost is mc=20. the profit-maximizing output for your firm is:
