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5) For a monopolist product , the demand function is given by : p = 85 - 0.05q . Cost function is c = 600

5) For a monopolist product , the demand function is given by : p = 85 - 0.05q . Cost function is c = 600 + 35q. At what level of production will the profit be maximized? At what price does this occur and what is the profit? (Profit = Revenue - Cost, Revenue = price x quantity. The maximal possible quantity is when the price is zero)

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