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Assume the hospital is a monopolist with a demand function given by p = 404 2x, where p is the price of hospital care and

Assume the hospital is a monopolist with a demand function given by p = 404 2x, where p is the price of hospital care and x is the quantity of hospital care, and a cost function is given by C = 300 + 4x + 8x2, where C is the total cost. Compute marginal cost and average cost. In addition, calculate the hospital's profit-maximizing output, price, revenue, and profit.

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