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A monopolist faces a market demand curve P (Q) = 506 1.562 and incurs marginal cost according the function MC(Q)=2Ql16. For the rst 2 blanks:
A monopolist faces a market demand curve P (Q) = 506 1.562 and incurs marginal cost according the function MC(Q)=2Ql16. For the rst 2 blanks: round output to the nearest integer, if necessary. To maximize prots, the rm will produce units of output, compared to the efcient market output of For the remaining 3 blanks: . Your answer should include only numbers and a decimal (if applicable). Do not include the $-sign. . If your answer is not an integer, round it to the nearest cent (two decimal places). - If your answer is an integer, do not add the ".00" at the end of your answer. For example, if your answer is $1, typing in "1" is the correct answer format. Do not type in "1.00". The marginal cost of the last unit produced by the monopolist is $ The monopolist will sell each unit of output for $ There is a total of 35 of DWL in the monopolistic market
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