kjlee6217 kjlee6217

24-05-2023
Business

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Let the inverse demand function and the cost function be given by P = 50 − 2Q and C = 10 + 2q respectively, where Q is total industry output and q is the firm’s output.
a) First consider first the case of uniform-pricing monopoly, as a benchmark. Then in this case Q = q. Find out the firm’s profit, price and quantity. (10p)
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