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1.A monopoly enjoys patent protection for a good it is producing.The market demand relation, the total fixed cost, the marginal cost, and the average variable

1.A monopoly enjoys patent protection for a good it is producing.The market demand relation, the total fixed cost, the marginal cost, and the average variable cost for its product are as follows:

a.Calculate profit-maximizing price/output combination if the company enjoys an effective monopoly on its product because of its patent protection.

b.Calculate the firm's profit.

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