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11.1. (3 marks) Suppose that the market demand curve is given by Q = 100 - 5?. a) What is the inverse market demand curve?
11.1. (3 marks) Suppose that the market demand curve is given by Q = 100 - 5?. a) What is the inverse market demand curve? b) What is the average revenue function for a monopolist in this market? c) What is the marginal revenue function that corresponds to this demand curve? 11.5. (3 marks) A monopolist operates in an industry where the demand curve is given by Q = 1000 - 201'. The monopolist's constant marginal cost is $8. What is the monopolist's prot-maximizing price? 11.10. (4 marks) Assume that a monopolist sells a product with the cost function C = F + 20Q, where C is total cost, F is a xed cost, and Q is the level of output. The inverse demand function is P = 60 - Q, where P is the price in the market. The firm will earn zero economic prot when it charges a price of 30 (this is not the price that maximizes prot). How much prot does the rm earn when it charges the price that maximizes prot
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