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For this question only, X=A+C+D. Suppose a monopolist faces a market demand curve given by Q=X-P . Assume the monopolist has a total cost structure

  1. For this question only, X=A+C+D. Suppose a monopolist faces a market demand curve given byQ=X-P. Assume the monopolist has a total cost structure given by

TC = 0.25Q2- 5Q+4X.

  1. What price quantity combination will be chosen to maximize profits? [2 marks]
  2. What are the monopolist's profits? [1 mark]
  3. What's the monopolist's minimum average cost? [2 marks]

whereby A=19, B=745, C= 5, D=53

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