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5. Consider a monopoly with the market demand D(p) = 120 -p, where p s 120. The monopoly's total cost function is C(Q) = 2Q2.

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5. Consider a monopoly with the market demand D(p) = 120 -p, where p s 120. The monopoly's total cost function is C(Q) = 2Q2. a) Find the monopoly's optimal output OM and price PM. For questions below, suppose that the monopoly is regulated by the government that set the highest price PH = 64. That is, the monopoly can produce any output Q, but cannot set the price above 64. b) Find the marginal revenue function of the regulated monopoly (Note: depending on the level of output, the formula for the marginal revenue can be different). c) Find the optimal output QR and price prof the regulated monopoly

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