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Given a monopolist with a maximum output of Q = 180 (Q is measured in tones of iron per day and can only take negative
Given a monopolist with a maximum output of Q = 180 (Q is measured in tones of iron per day and can only take negative values). The monopolist's demand curve looks like
Q= 200 - 1/2 * P (* = times)
where "P" denotes the price of iron ore measured in dollars per tone, and the total cost of producing iron ore is described by the function:
TC= 0.2 * Q^2 + 4 * Q + 400
The marginal cost curve cuts the marginal revenue curve when the output level is what?
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