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2. M.A. students only. Now suppose instead of 10 firms there is a single price-setting monopolist with the same cost function as in question (1).

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2. M.A. students only. Now suppose instead of 10 firms there is a single price-setting monopolist with the same cost function as in question (1). (a) Use the market demand curve in (1) to solve for the monopolist's equilibrium quantity, y* . (b) How does this compare to total quantity with 10 price-taking firms

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