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A Monopolist Faces Market Demand Given by P = 120

Question 21

Multiple Choice

A monopolist faces market demand given by P = 120 - Q.For this market,MR = 120 - 2Q and MC = 2Q.What quantity of output will the monopolist produce in order to maximize profits


A) 20
B) 30
C) 80
D) 120

Correct Answer:

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