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Another 3 step problem - For questions 16- 18, use the following scenario: You are the manager of a monopoly rm. Suppose that your rm

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Another 3 step problem

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For questions 16- 18, use the following scenario: You are the manager of a monopoly rm. Suppose that your rm faces a demand curve described by P = 140 - 4Q. Your cost function is C = 10 + 100Q. Your marginal revenue function is MR = 140 - 8Q. Your marginal cost function is MC = 100. For question 16, what is the prot maximizing output for your rm? 010 014 For question 17, what is the prot maximizing price your rm should set? 0 $510 0 $100 0 $180 0 $120 For question 18, what is the prot your rm would make if it produced at the prot-maximizing price and quantity? 0 $90 0 $510 O$O 0 $600

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