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ABC is an unregulated monopoly with a marginal cost expressed by MC = 80 + 4Q. The demand curve for its product is given by

ABC is an unregulated monopoly with a marginal cost expressed by MC = 80 + 4Q. The demand curve for its product is given by P = 200 - 2Q, where P is the price of its product.

  1. If the firm wants to maximize profit, what level of output should it choose?
  2. What price should it charge?

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