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A monopolist has a total cost of TC = 500 + 55Q - 3Q 2 + 0.1Q 3 and faces a market demand curve P

A monopolist has a total cost of TC = 500 + 55Q - 3Q² + 0.1Q³ and faces a market demand curve P = 110 - 6.5 Q. Determine the producer surplus and the consumer surplus at the short-term equilibrium.

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