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(Scenario: Home Monopolist) a Monopolist Faces a Demand Curve Given

Question 5

Multiple Choice

(Scenario: Home Monopolist) A monopolist faces a demand curve given by P = 60 - 2Q and has total costs given by TC = Q2. Its marginal revenue is MR = 60 - 4Q and its marginal cost is MC = 2Q. In autarky, what is the firm's equilibrium output?


A) 5
B) 10
C) 15
D) 20

Correct Answer:

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