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9) There is only one restaurant at a ski resort, i.e. this restaurant has a monopoly. A typical patron has the demand function Q =
9) There is only one restaurant at a ski resort, i.e. this restaurant has a monopoly. A typical patron has the demand function Q = 900 - 45P. The marginal cost is $4 per meal. Suppose the monopoly uses a single per unit price. Calculate the profit-maximizing price and quantity, the monopoly's profit, and the deadweight loss.
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