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2 marks (4D) The demand and total cost functions of a good for a monopolist are given by 1 P = - 1,000 0 +

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2 marks (4D) The demand and total cost functions of a good for a monopolist are given by 1 P = - 1,000 0 + 500 and TC = 400 + 209 (i) Define the monopolist's profit function as a function of Q. 1 mark (ii) Derive and interpret the first-order condition for profit maximisation. 2 marks

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