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6) A Monopolist's Demand function is P = 1624 - 4Q, and its Total Cost function is TC = 22,000 + 24Q 4Q2 + 1/3

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6) A Monopolist's Demand function is P = 1624 - 4Q, and its Total Cost function is TC = 22,000 + 24Q 4Q2 + 1/3 Q3, where Q is the output produced and sold. a. At what level of output and sales (Q) and price (P) will total profits be maximized? b. At what level of output and sales (Q) and price (P) will total revenue be maximized? c. At what price (P) should the monopolist shut down

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