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A monopolist has a demand curve given by P = 120 - 4 Q and a total cost curve given by TC =20 + 2

A monopolist has a demand curve given byP= 120 - 4Qand a total cost curve given by TC =20 + 2Q2. The associated marginal cost curve is MC= 2Find the monopolist's profit-maximizing quantity and price. How much economic profit will the monopolist earn?[10 points. No graph needed; You are expected to write down the equations and numbers for each step of your calculations]

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