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7 points Save Assume the demand for a new drug Alwayssmile is given for the first 2 years by Year 1: Q1=1600-2P1 Year 2: Q2=2Q1-4P2

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7 points Save Assume the demand for a new drug Alwayssmile is given for the first 2 years by Year 1: Q1=1600-2P1 Year 2: Q2=2Q1-4P2 Given the linear demand function, we know that the profit would be given by setting the Marginal revenue which has the same intercept as the demand and twice its slope = marginal cost Assume that the cost of producing Alwayssmile is approximately =0, Find the profit-maximizing price for the second year: P2

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