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The Market Demand Function for a Product Sold by a Monopolist

Question 34

Essay

The market demand function for a product sold by a monopolist is given below:
QD=270−5PQ D = 270 - 5 P The monopolist's marginal cost function is given below:
MC=6+2QM C = 6 + 2 Q Calculate the equilibrium price and quantity.

Correct Answer:

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