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(Steps Shown) A monopolist sells a product with the following total cost function: TC = 1200 + 0.5Q 2 And the market demand curve is given by: P=300 - Q Find

Question: A monopolist sells a product with the following total cost function: TC = 1200 + 0.5Q 2

And the market demand curve is given by:

P=300 - Q

  1. Find the profit-maximizing output and price for this monopolist.
  2. Calculate the price elasticity of demand at the monopolist’s profit maximizing price.

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Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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