A monopoly has long run total cost given by: TC = 97 + 5*Q + 0.5*Q,...

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A monopoly has long run total cost given by: TC = 97 + 5*Q + 0.5*Q, where Q represents the units of output. The market demand is given by: P = 211 - 2Q. The profit-maximizing level of output for this monopolist is 41.2 and the market price is $128.6. What is the monopolist's profit? (Use many decimal places in your calculations, but round your final answer to one decimal place.) A monopoly has long run total cost given by: TC = 97 + 5*Q + 0.5*Q, where Q represents the units of output. The market demand is given by: P = 211 - 2Q. The profit-maximizing level of output for this monopolist is 41.2 and the market price is $128.6. What is the monopolist's profit? (Use many decimal places in your calculations, but round your final answer to one decimal place.)

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Profit is calculated as Revenue minus Cost Lets find th... View the full answer