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12) [lZpts] Consider a rm which is a monopoly in a market. The following equations describe the monopolist's demand and total cost: Demand: P{Q] =

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12) [lZpts] Consider a rm which is a monopoly in a market. The following equations describe the monopolist's demand and total cost: Demand: P{Q] = 9 Q Marginal Revenue: MR{Q] = 9 2Q Total Cost (short run]: TC{Q] = I Q + Q2 Marginal Cost [short run): MC{Q] = I 2Q where Q is quantity, measured in kg, and P is the price measured in TL/kg. Howr much would the monopolist produce? At What price will it sell its output? What is the monOpolist's prot? Show your calculations

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